France pension reform causes violent protests across country | Watch
2 min read . Updated: 17 Mar 2023, 11:10 AM IST
Premium- The French government proposed to increase the retirement age to 64 years from 62 years
- According to the Organisation for Economic Co-operation and Development (OECD) data, Iceland, Israel, and Norway have the oldest retirement ages at 67
France is witnessing one of the most violent protests of the century. Thousands of citizens lit small fires and clashed with police clad in riot gear on Thursday after France President's latest decision on pension rule.
On Thursday, French President Emmanuel Macron brought in a very controversial pension reform plan wherein he extended the retirement age from 62 to 64 without a vote of lawmakers.
Prime Minister Élisabeth Borne invoked article 49:3 of the constitution - allowing the government to avoid a vote in the Assembly.
Macron's decision prompted raucous protests inside the National Assembly where Opposition lawmakers sang the French national anthem and banged on their desks.
France Pension reform:
1. The French government proposed to increase the retirement age to 64 years. The reform will happen at a gradual pace, that is, the retirement age will increase by every three months per year from September until 2030.
2. From 2027, the workers in France will have to make social security contributions over 43 years as against 42 years to draw a full pension.
3. Under the new reform, there will be a guaranteed minimum pension income of not less than 85% of the net minimum wage or around 1,200 euros per month at the current level.
4. And, after one year of retirement, the pension of those receiving minimum income will be indexed to inflation.
How the France Pension reform will affect citizens?
5. The move will boost the employment rate among 60-64 years. In France, the employment rate in this category is 335 as compared to 61% in Germany and 69% in Sweden.
6. The government says the pension of the poorest 30% of the population will increase by 2.5-5%.
7. However, the union is saying that the proposed measure would disproportionately affect low-skilled workers in tiring jobs who start their careers early.
Burning France:
8. After Macron proposed the pension reform scheme, many angry protesters with covered faces threw cobblestones torn from the pavement at the police, who responded with tear gas and water cannons as they slowly pushed the diminishing crowds into surrounding streets.
Some protesters set fire to wood construction fencing and heaps of trash, which has gone uncollected in many parts of Paris over the past week because of an ongoing strike by garbage workers.
Some 120 people were arrested on suspicion of seeking to cause damage, Paris police said.
Longest retirement in the world:
9. According to the Organisation for Economic Co-operation and Development (OECD) data, Iceland, Israel, and Norway have the oldest retirement ages at 67. The life expectancy in these countries is 81, meaning the average men in these countries spends 14 years in retirement.
Usually, countries increase the retirement age when life expectancy rises. In some countries, one can retire before the age set by government pensions and some have a flexible retirement age, such as Canada, Finland, Norway, Sweden, and the United States.
10. Shortest retirement age:
Saudi Arabi- 47 years
Turkey- 52 years
Indonesia- 57 years
