France’s planned pension reform is getting a failing grade from critics who say the government is not going far enough to balance its pension system.
French administration officials unveiled the pension reform plan at the end of last month. The length of employee contributions will be increased incrementally by one trimester each year beginning in 2020 through 2035, according to an analysis by EurActiv. The contribution period would be extended from 41.5 years to 43 years over that timeframe. The report said a plan to raise a general income tax was scrapped due to pressure from trade unions. Under the proposal, employees and businesses also will face a 0.3 percent increase in contributions by 2017.
