French pension reform aimed at keeping taxes low, says Government

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By  India Blooms News Service   Mar 15, 2023

Paris: The pension reform in France is being carried out to balance the countrys pension financial system without raising taxes, government spokesman Olivier Veran said on Wednesday.

The draft pension reform provides for gradually increasing the retirement age in France from 62 to 64 years and canceling special regimes for a number of difficult professions. The draft bill caused massive public outrage and a wave of demonstrations that swept across the country.

Why are we carrying out this [pension] reform? In order to keep out distributive [pension] system, not to raise taxes, not to decrease pensions and increase debt. All we do is aimed at that. We stick to this aim and keep it, Veran said in his interview for French radio station Europe 1.

He also said that the retirement age is being increased to look the French people in the eye in five, 10, 15 years and to tell them that their pension contributions and the pension system itself would guarantee them decent income in retirement.

French government spokesman added that adopting the pension reform would without a shadow of doubt ensure the countrys financial balance by 2030.

On March 11, the upper chamber of the French parliament endorsed the pension reform project suggested by the government. On March 16, the lower chamber will vote on the document.

(With UNI inputs)