French PM proposes raising retirement age to 64 by 2030

FRENCH Prime Minister Elisabeth Borne on Tuesday proposed raising the legal retirement age from 62 to 64 by 2030 in a major pension reform that sets the stage for a showdown with trade unions.

Borne also accelerated other planned pension system changes that will extend the careers of many workers if they want to retire with a full pension, framing the move as vital to prevent the system from collapsing under the weight of deficits. “Leaving these deficits to grow would be irresponsible... It would lead inevitably to a massive increase in taxes, a reduction in pensions and would pose a threat to our pensions system,” she said.

The proposed changes, which are set to be examined by parliament early next month, would mean the pension system would be in balance in 2030. But Borne also acknowledged widespread public opposition to the changes and a looming battle with trade unions who are expected to announce strikes later on Tuesday. “I’m very aware that making changes to our retirement system is causing anxiety and fears among French people,” she told a press conference. AFP