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2mo ago

French Economy Minister Proposes Increased Retiree Contributions and Longer Work Periods

Éric Lombard advocates for financial adjustments to address the retirement system deficit, while rejecting calls to repeal the 2023 reform.

AFP - Eric Lombard
Le premier ministre, François Bayrou, entouré (de gauche à droite) de Laurent Marcangeli, Pierre Moscovici, Astrid Panosyan-Bouvet, Catherine Vautrin et Éric Lombard, s’exprime après avoir reçu les résultats du rapport de la Cour des comptes sur les retraites.
Le ministre de l’Économie Éric Lombard a indiqué vendredi être «plutôt» partisan d’une contribution accrue des retraités à l’effort financier.
Un cycle de négociations de trois mois va maintenant s’ouvrir entre des partenaires sociaux diamétralement opposés.

Overview

  • Éric Lombard, France's Economy Minister, supports higher financial contributions from retirees, citing disparities between retirees' and workers' living standards.
  • The minister emphasized the need for workers to potentially extend their years of employment to stabilize the retirement system's finances.
  • The Cour des Comptes' report highlights a projected retirement system deficit reaching €30 billion by 2045 without further reforms.
  • Lombard ruled out repealing the 2023 retirement reform, which raised the legal retirement age to 64, citing prohibitive costs.
  • Negotiations between unions and employers on potential solutions are set to begin on February 27, with issues like pension indexation and retirement age on the table.