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2mo ago

French Pension System Faces Projected Deficit of €15 Billion by 2035, Says Cour des Comptes

A new report highlights the financial challenges of France's retirement system, calling for further reforms to address long-term funding gaps.

François Bayrou a laissé la main aux partenaires sociaux sur ce dossier.
Le premier ministre se référait au rapport de la Cour des comptes qui venait de lui être remis par son président Pierre Moscovici.
Le député LFI Hadrien Clouet à l'Assemblée nationale le 15 octobre.
François Bayrou et plusieurs ministres le 17 janvier au ministère du Travail où se tenait la réunion de lancement de la concertation sur les retraites.

Overview

  • The Cour des Comptes projects a €15 billion deficit in France's pension system by 2035, increasing to €30 billion by 2045 without additional reforms.
  • The 2023 pension reform, which raised the retirement age to 64, improved finances but is insufficient to ensure long-term stability.
  • The report dismisses claims of a €45 billion 'hidden deficit' in public sector pensions but acknowledges significant state contributions to these schemes.
  • Key reform options include adjusting the retirement age, modifying required contribution periods, increasing payroll taxes, or altering pension indexation to inflation.
  • The report serves as a foundation for upcoming negotiations between unions and employers, with no specific reform proposals endorsed by the Cour des Comptes.