French Prime Minister Unveils Pension Plan As Strike Continues To Paralyze Paris
Strikes and protests have clogged the streets of Paris and elsewhere in France since last Thursday. Now there’s a turning point: the government has unveiled its plan to reform the French retirement system.
The plan calls for a shift from 42 distinct pension plans according to job and region into one universal scheme. The new system will be based on points, on the principle of giving each pensioner the same rights for each euro they pay into it.
Those who have worked a full career (about 42 years) will receive a minimum of 1,000 euros a month, or $1,109. The official retirement age in France is 62, but certain fields allow for earlier retirement, including train drivers, dock workers, and opera singers. As a result, the country’s average retirement age is 60, The Local France reports.
French Prime Minister Édouard Philippe announced the outlines of the plan in a highly anticipated speech on Wednesday. He said the new system would be more fair, and would benefit women and gig economy workers. “We know our children won’t have the same linear careers we had and we need a pension system that allows that,”
Philippe said, according to Reuters. “We need to have faith in a system that is not deemed to favor one person over another.”
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