Urgent Macron, French President, Hints at Revising Pension Reform Pledge

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Park Byung-hee] French President Emmanuel Macron has indicated that he may revise his pension reform pledge, which voters have strongly opposed. This is interpreted as a strategic move to secure victory in the runoff presidential election scheduled for the 24th (local time).

According to major foreign media on the 12th (local time), President Macron said he would consult with labor unions and other political parties regarding the timing and pace of the pension reform.

Initially, President Macron pledged to extend the retirement age from the current 62 to 65 if he succeeded in his second term. However, on the 11th, during an appearance on BFM TV, Macron stated, "The retirement age of 65 is not an absolute, unchangeable doctrine," adding, "I do not want France to be divided."

French voters acknowledge the need for pension reform but show a contradictory attitude by opposing Macron’s pledge to raise the retirement age and consequently delay pension receipt. In a survey released last month by Les Echos, 69% of respondents opposed Macron’s plan to extend the retirement age. Macron’s campaign team views the pension reform proposal as having alienated even his supporters, which has narrowed the gap in support rates against Marine Le Pen, leader of the National Rally, who will face him in the runoff.

Le Pen initially pledged to lower the retirement age from 62 to 60. Later, she quietly emphasized the current legal retirement age of 62 but stated that those who started working early, between ages 17 and 20, could retire early.

During his first term, President Macron continuously pushed for pension reform. He sought to delay the retirement age and pension receipt and to unify the retirement pension system, which is divided into 42 categories by job type, into one system. However, opposition to raising the retirement age was strong, and the outbreak of COVID-19, an unexpected variable, halted Macron’s pension reform efforts.

President Macron maintains that pension reform is essential due to the significant government fiscal burden caused by pensions in an aging society. France’s retirement age is relatively early compared to Germany and the United Kingdom. The French government’s pension expenditure accounts for about 13.7% of the gross domestic product (GDP), which is twice the average of the Organisation for Economic Co-operation and Development (OECD) member countries.

Le Pen responded skeptically to Macron’s statement that he might revise his pension reform pledge. She said, "I do not trust President Macron at all," adding, "Especially with only about 10 days left until the runoff vote." She criticized Macron by saying, "During his five years in power, he never held a referendum," and accused him of clinging to the obsession with retirement at 65.

President Macron also indicated that he is open to discussing measures that would allow workers engaged in physically demanding jobs or those who started working at a young age to retire early.

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