French Government Partially Retreats on Pension Reform Plan: "Will Not Raise Retirement Age"

[Asia Economy Reporter Naju-seok] The French government has presented a concession on key union demands regarding pension reform. France has taken a step back on the core aspects of the pension reform amid the 38th day of the nationwide strike against the pension reform.

[Image source=AP Yonhap News]

On the 11th (local time), French Prime Minister ?douard Philippe sent a letter to union representatives stating that the government is prepared to withdraw the reform plan to raise the retirement age, according to AP News.

The French government is currently pushing for a reform to unify the pension system, which is divided into 42 different sectors and professions, into a single standardized system. Additionally, raising the legal retirement age from the current 62 to 64 is under consideration.

The French government argues that the newly proposed pension system is fairer and financially sustainable, but unions have opposed it, saying it means "working longer while receiving less pension."

CFDT, one of France's largest unions, welcomed the withdrawal of the legal retirement age increase. However, CGT called it a "smokescreen" and stated their intention to continue the general strike.

This content was produced with the assistance of AI translation services.