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| Hollande salvo in campaign for pension reform |
| Paris, 21.06.2013 |
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| French President Francois Hollande fired the opening salvo yesterday in his campaign to reform the country’s pension system, saying the fact that people now lived longer required them to work longer. The deficit in France's pay-as-you-go pensions system is expected to reach 20 billion euros ($27 billion) by 2020 as the ratio of pensioners to workers spirals. Launching two days of talks with trade unions and employers on how to make the system sustainable Hollande said the leap in life expectancy was "wonderful" but that workers had to accept the consequences.
Several European countries have increased the minimum age for a full pension in recent years to reflect the new reality. Hollande ruled out raising the pension age, which his predecessor Nicolas Sarkozy lifted from 60 to 62. Hollande, a Socialist, said to raise the pension age was to "penalise those who start work early" and canvassed instead for an increase in the number of years worked. "Extending the period of contribution is the fairest measure, on condition it is applied to all and to all regimes," he said.
Currently, a person has to show 41.5 years of contributions for a full pension. An expert report ordered by the government last week recommended increasing that to 44 years for most workers. The report also recommended narrowing the difference between the public and private-sector pension regimes, among other proposals. The public sector regime is far more advantageous. But reforming the system — particularly the public sector system — is a political minefield. The government of former prime minister Alain Juppe fell over his failed attempt to push through pension reforms in 1995, amidst crippling strikes and mass protests. — DPA
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