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President Macron wants French pension plan implemented by end of year

French President Emmanuel Macron said on Wednesday that the pension bill that he pushed through without a vote in parliament needs to be implemented by the “end of the year.

Macron, who made the comments in an interview broadcast on national television, said the bill that raises the retirement age from 62 to 64 will continue its democratic path”.

The Constitutional Council needs to review the bill in the coming weeks, and it can only be turned into law after the body gives its approval.

It was the first time that Macron had spoken publicly since his government forced the pension bill through parliament last week, prompting scattered protests in Paris and across the country, some degenerating into violence. His government survived two no-confidence votes at the lower chamber of parliament on Monday.

The 45-year-old French president repeatedly said that he was convinced that the retirement system needed to be modified to keep it financed.

“That reform is not a luxury, it is not fun, it’s a necessity for the country,” he said.

Macron “condemned” violence after his decision last week prompted daily, scattered protests in cities around France, some degenerating into scuffles with police, including in Paris.

He insisted that he respects unions and protests organised by opponents to show that they disagree with the pension plan.

Dock workers in Marseille on Wednesday blocked access to the city’s commercial port France’s biggest preventing trucks and cars from entering amid a heavy police presence.

Garbage was still piling up on some Paris streets as sanitation workers entered their 17th day of the strike. Authorities issued an order in recent days requiring some garbage employees to ensure a minimum service for health reasons.

Oil shipments in the country were partially disrupted amid strikes at several refineries in western and southern France. Gas stations in the country’s southeast region are currently the most affected by shortages.

Unions have called for new nationwide protests and strikes on Thursday to demand that the government simply withdraw the retirement bill. High-speed and regional trains, Paris metro and other public transportation in major cities were expected to be disrupted.


France’s Pension Bill


What changes?


Retirement age pushed back by 2 years to 64


A full pension from 2027 will require working for 43 years (instead of 42 years currently)


Guaranteed minimum pension income of not less than 85 per cent of the net minimum wage for new retirees


The Impact


Employment rate among 60-64 year-olds will rise


Pensions of the poorest 30% will increase by 2.5%-5%, says the government


Gross savings of €17.7 bn per year by 2030


Why The Opposition?

Public sector workers are among those with the most to lose, as they will be required to work longer


Opponents argue that there are other ways to get financing for the pensions — for instance via a tax on the wealthy, or an increase in payroll contributions paid by employers             


Source: Agencies

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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