Left Menu
Development News Edition

UPDATE 1-French pension reform to impact people entering job market from 2022 -media


UPDATE 1-French pension reform to impact people entering job market from 2022 -media
Image Credit: Pixabay

The French government's pension reform plan, key details of which are set to be unveiled later on Wednesday, will fully apply to people entering the labor market from 2022 and will not impact anyone born before 1975, French media reported.

Public workers have been on strike for seven day days against the reforms, championed by President Emmanuel Macron, and unions have called for more protests on Dec. 12 and Dec. 17 following two mass demonstrations on Tuesday and last Thursday. French Prime Minister Edouard Philippe is due to unveil the key elements of the government plan to simplify the country's complex pension systems arrangements around noon.

Amid a number of media reports, BFM Television also said that the new pension rules will partially apply to those born in 1975, and only affect retirees from 2037. France Inter radio reported that the system would affect young people starting a new job from Jan. 1, 2022 and that from that date the government would also introduce a minimum pension of 1,000 euros ($1,102) per month for those who worked a full career.

President Macron is determined to simplify a system that comprises more than 40 separate pension plans. He says a single, points-based system would be fairer, giving every pensioner the same rights for each euro contributed. But unions say Macron wants to strip workers of hard-earned benefits in order to balance the state budget. ($1 = 0.9073 euros)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Beware! Maximum cyber criminals eye your personal data

A report of the World Economic Forum revealed that cyber security is increasingly becoming an issue of public security as the majority of cyber criminals are increasingly targetting individual internet users. This requires preventive measur...

WEF 2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

Videos

Latest News

UK's Johnson: No Middle East peace plan is perfect but Trump's has merits

British Prime Minister Boris Johnson said on Wednesday no Middle East peace plan was perfect, but the one put forward by U.S. President Donald Trump had the merit of being a two-state solution and should be considered by Palestinian leaders...

Indian Open international kickboxing tournament announced

India Kickboxing Federation, affiliated to the World Association of Kickboxing Organizations, on Wednesday announced the launch of the first-ever WAKO Indian Open Kickboxing international tournament. The tournament is scheduled to be held i...

Cabinet approves official amendments to National Commission for Homoeopathy Bill 2019

The Union Cabinet on Wednesday approved official amendments in National Commission for Homoeopathy Bill to ensure necessary regulatory reforms in homoeopathy education. An official release said the cabinet approved official amendments in th...

FOREX-Dollar holds gains as investors assess damage from Chinese virus

The dollar held near two-month highs on Wednesday and other currencies seen as safe havens stabilised as investors regained their composure after an outbreak of coronavirus in China, awaiting more news on possible economic damage. The dolla...

Give Feedback