Latest update: 18/06/2010
- France - Retirement
Govt and unions ready for pension reform battle
French President Nicolas Sarkozy invoked possible changes to his government's proposed reform of the state pension system as a poll showed two-thirds of French opposed to the measures and unions geared up for a June 24 demonstration.
By News Wires (text)
Two-thirds of people in France say the government’s plans to raise the minimum retirement age are “unjust”, according to a survey for Europe 1 radio which was published on Friday.
The TNS-Sofres-Logica survey added that 68 percent said the government would not be able to balance the country’s pension deficit.
Earlier this week, the government said it would raise the retirement age to 62 from 60, as part of a reform aimed at salvaging the nation’s indebted pensions system and safeguarding its AAA sovereign debt rating.
The French pay-as-you-go pension system is forecast to register a deficit of 32 billion euros ($39.62 billion) this year. By 2050, with people living longer, the shortfall is expected to swell to more than 100 billion euros.
French trade unions are due to hold a new protest against the reform on June 24.