In France, the new pension system will come into force in 2022 | FREE NEWS

In France, the new pension system will come into force in 2022

PARIS – The law on pension reform in France will take effect from January 1, 2022, said French Prime Minister Edouard Philippe.

Since December 5, France has been holding a nationwide strike against the pension reform announced by the government, as a result of which some categories of French people, including transport workers, may lose some privileges and special retirement regimes.

On Wednesday, Philippe presented the provisions of the pension reform, noting that it is based on three principles-universality, equality, and responsibility. The reform will affect those born before 1975, said the head of the French Cabinet. The first generation to be affected by the reform is the French, retiring in 2037. At the same time, 70% of their pensions will be calculated according to the old system, explained Philip.

The generation born in 2004, those who turn 18 in 2022, will be the first to be fully integrated into the new pension system, he said.

However, the French Prime Minister confirmed that the official retirement age in France-62 years – will not be changed. At the same time, he stressed that the authorities should encourage the French to work longer.

“On January 1, 2022, the new law will come into force,” Philippe said, introducing the provisions of the pension reform on Wednesday.

He noted that in 2025, generations of French people who are more than 17 years in retirement will enter the new system, retaining their rights. From 2037, part of their pension will be charged under the new system.

Philippe said that the draft pension reform will be ready by the end of the year and presented at the meeting of the Council of Ministers on January 22, 2020, and will be discussed in Parliament at the end of February next year.