Macron Faces 'War' On Pension Reform Plan

French President Emmanuel Macron will present his plan to overhaul France’s pension system on Tuesday, likely triggering mass strikes and protests that may further undermine an economy already at risk of falling into recession, Horobin and Ania Nussbaum reported for Bloomberg News.

Photo Insert: Even moderate labor unions have vowed to down tools and take to the streets if the French president goes ahead with his election pledge of raising the minimum retirement age from 62.

Even moderate labor unions have vowed to down tools and take to the streets if the French president goes ahead with his election pledge of raising the minimum retirement age from 62.

Yet, the government insists such change is essential to boost relatively low employment rates among seniors and avoid persistent deficits in a system funded by worker contributions.

The pension reform plan contemplates extending the minimum retirement age from 62 to 65, thus forcing workers and employees to contribute for three more years before enjoying their pensions.

French workers have the lowest minimum retirement age in all of Europe even as other countries consider 60 as the minimum retirement age. In the US, workers can be on the job even if they are already 100.

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