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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.)

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