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France Gives Workers More Benefits
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About 110,000 workers, or about 20% of the number of people retiring each year in France, will be able to retire at the age of 60 in 2013 under a new presidential decree. These are workers who started to work at the age of 18-19 and put in 41 years of contributions into the state run pension fund. The decree by French president Hollande leaves the Sarkozy reform of increasing the retirement age to 62 from 60 in place, but creates an exception for these workers, at a cost of 1 billion euros in 2013, and 3 billion euros in 2017. This could also be a way to get labor union support for public spending cuts to reduce the deficit which are expected.
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France Gives Workers More Benefits
Wall Street Journal 06/07/2012
Changes to the retirement age in France for workers contributing 41+ years to the state pension fund
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For these workers an exception is made to the Sarkozy reform of the retirement age to 62 years from 60. This is expected to get support of the unions.
Grouped Articles
France Gives Workers More Benefits
Wall Street Journal 06/07/2012
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