the avenues considered by the government

the avenues considered by the government
the avenues considered by the government

If Emmanuel Macron has buried the reform controversy that had caused nearly two months of social conflict just before the Covid-19 epidemic, he remains determined to tackle the subject in a different form.

A few days ago, during a trip to Martel in the Lot, Emmanuel Macron spoke about the pension reform. “I do not think that the reform initially envisaged can be resumed as it is,” assured the President of the Republic. “I’ll be frank. The reform was ambitious, extremely complex, and suddenly, it was a source of concern. We must admit it”.

This reform, which had caused two months of union and political rebellion before the Covid-19 epidemic, was “suspended” in mid-March 2020 after its adoption at first reading in the National Assembly.

The text provided for a new “universal” and point-based retirement system, with identical social rights for all, but also a very controversial “balance age”.

What to replace it with? According to The Parisian, the executive is working on several scenarios. The government could abandon its systemic approach with the points system to finally return to a parametric reform allowing to generate immediate savings. Recall that according to the Pension Orientation Council, the pension deficit is estimated at 20 billion euros for 2020.

Raising the legal age to 64

A note dating from early 2020 from the direction of Social Security entitled “Future of the pension reform project” offers precisely five alternative solutions. One of them provides for the raising of the legal retirement age to 64, “ie three months per generation from the 1962 generation”.

The establishment of a minimum age from which an employee could leave without a discount, combined with a drop in the age of the full rate, is also being considered. Concretely, it would be necessary to work until 64 years minimum to receive its retirement at full rate (against 62 today). On the other hand, the full rate will be compulsorily reached at 65, instead of 67 currently.

This scenario of decline to 64 years would save 5.8 billion euros by 2027. It would be favored by the Elysee, say our colleagues.

An acceleration of the Touraine reform is also among the possible options. The contribution period would increase by an additional quarter per generation to arrive more quickly at 43 and 44 years of contributions, while the current calendar provides for an additional quarter every three years.

Always according to The Parisian, these new proposals would be unveiled to the social partners at a social conference this summer.

Olivier Chicheportiche BFM Business journalist

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