Pension reform: what we know (and still don’t) about the government’s draft – Find out everything about pension reform

  • 1 Statutory retirement age

  • What do we know? : You finish your pension at 62, you will have to work more. The government wants to push back the statutory retirement age. And almost all workers will be affected, even those who benefit from early departure (only Paris Opera dancers and fishermen-sailors will be exempt). Emmanuel Macron reaffirmed during his appeal to the French: “This is to ensure the balance of our pension system for the years and decades to come” and “consolidate our pay-as-you-go pension system”. And to clarify: “The extension of our career will be gradual, it will be carried out in stages over the course of ten years.”

    Things we don’t know : Retirement at 64 or 65? Emmanuel Macron promised in his presidential program that he will leave at the age of 65. “It’s not a totem,” Elizabeth Borne assured Tuesday morning. “Other solutions could make it possible to reach a balance by 2030,” the prime minister told franceinfo.

  • 2 Implementation of the reform

  • We know the history : the new rules “will be applied from the end of the summer of 2023”, the head of state confirmed once again during his oath. We will reach 64 in 2027 and 65 in 2031 due to the increase of the retirement age by four months every year. For this reason, the first generation interested in reform is the second half of 1961.

  • 3 Deposit period

  • What do we know? : if you do not meet the required number of annuities, a discount is applied up to a certain age before you automatically receive a full-rate pension. The president has promised to keep his 67 years. He also does not want to “change the age limits that allow full-rate retirement at 62 for the insured disabled or unfit, and 55 for disabled workers,” said Olivier Dussopt, minister of affairs.

    Currently, 166-172 quarterly contributions are required to receive a full pension without concessions. Elizabeth Borne promised at franceinfo that the contribution period, which allows you to have a full pension, will not change. “We will not go beyond the 43 years provided for in the Touraine reform,” he said.

  • 4 Amount of pensions

  • The government is clear : Elisabeth Borne reminded in December that this excludes “reducing the amount of pensions or increasing the value of work through additional contributions”.

  • 5 Special diet

  • What do we know? : the government still wants to abolish 42 special regimes by applying the “grandfather” clause (reliefs related to the regime will be abolished only for new recruits). Employees of Banque de France, RATP and the Electricity and Gas Industry (IEG) will be affected.

    Things we don’t know : this deletion is still very uncertain. Apart from the above examples, it is not known which other companies will be affected. Emmanuel Macron also hinted that he could keep “about three main regimes”, “for the civil service, employees (private, editor’s note) and then the self-employed”, but this lacked details.

  • 6 A long career

  • We know the rule : currently, long careers can start at 60, not 62. Provided that they collected all their neighborhoods, including four or five, 20 years ago. With the reform, these two years will be kept in months (if the new legal age is 65, the early departure will be at 63). The government even wants to go further by changing the “too long” career system: it’s now reserved for people who contributed four or five quarters before 20 or four or five quarters before 18. It will allow you to retire four years before the legal age.

  • 7 Difficulty

  • What do we know? : the government wants to improve the consideration of certain hardship factors. Currently, workers exposed to harsh working conditions can earn points due to professional prevention. Points that entitle you to training, part-time work or early retirement. The government refuses to re-introduce four of the ten hardship criteria removed in 2017 (painful postures, carrying heavy loads, mechanical vibration, etc.).

    Things we don’t know : what the government really wants to do. A few ways are being explored (encourage affiliates to lower the odds, allow them to earn more points when exposed to risks at the same time, etc.), but they remain very vague at the moment.

  • 8 Minimum pension

  • What do we know? : the minimum amount of pension for new retirees will be increased to 1200 euros for those with a full career.

    Things we don’t know : since when this modality will be applied.

  • 9 Employment of the elderly

  • What do we know? : the government will create an elderly index to monitor the behavior of companies in terms of training and employment of people over 55.

    Things we don’t know : whether sanctions will be applied to companies that have a weak position in this index. In addition, the Executive promises employment and retirement, gradual retirement, or even access to vocational training for the elderly, without detailing the terms of these measures.

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