France State Pension _ French State Pension
Published / Last Updated on 25/02/2010
France State Pension - French State Pension
by Ashley Clark, Director
The French president, Nicolas Sarkozy has announced pension reforms will start in April this year, in an attempt to cut the increasing deficit.
The idea is for reforms to commence in April, with negotiations taking place throughout the summer and a proposal before Parliament in September.
Mr Sarkozy said: “The measures we adopt will need some time to have an effect. We can no longer defer decisions if we want to save our pensions system”. He then went on to say: “I will not accept that the pay as you go system will be called into question, nor that pensions in payment will be reduced under any circumstances”.
The state pension deficit is believed to be the equivalent of €9.32bn in 2010. This is an increase from 2008 of €8.2bn and 2005 of €5.6bn.
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