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France’s Parliament Passes Bill to Increase Retirement Age

Recently, even the abundant French pension system has become tougher. The retirement age and length of service required for retirement has increased, while government payments have reduced. However, the French retire without worrying about tomorrow, because for them this is the beginning of a new, interesting, and secured life.

The pension system in France has been laid in the 19th century. Its underlying principle was the fact that the working people in France paid taxes from their wages, part of which went to pay pensions for the elderly and disabled. As long as the birth rate exceeded the death rate and families had many children there were no problems. However, since the mid-20th century a process started that can be seen today in many developed countries: a sharp decline in the birth rate and increasing life expectancy. This led to the reduced number of employees, from whose contributions government paid pensions, while the number of people of retirement age has increased.

Two years ago, France had to seriously reconsider its whole pension system, taking into account the requirements of the European Union: raising the retirement age and an increase in length of service and the size of contributions to the pension fund. However, the country’s trade unions actively opposed the increase in the retirement age and length of service, and business representatives were against a sharp increase in deductions for taxes.

The reform rose the retirement age from 60 to 62 years by 2018, and by 2030 – up to 67 years following the example of other European countries, especially Germany. This will entail an increase in working time period for full pension.

In response to Senate’s decision unions prepared response demarches that were directly tied to the parliamentary calendar. The protests were held across France, with the participation of trade union activists, students and ordinary citizens. During the protests oil refineries, fuel depots, highways between cities, roads to airports and several railway stations were blocked in the country. In cities across France there were mass demonstrations, the largest of which was held in Paris. According to various estimates, the protests were attended by 3.5 million Frenchmen.

However, in France there is a new system of pension insurance, which suggests that the pensioners themselves must make contributions for their retirement. Of course, the government does not refuse to help seniors who have worked for it their entire lives. Those who are still working were given the opportunity to save money in order to significantly improve their standard of living in retirement.

Recently, even the abundant French pension system has become tougher. The retirement age and length of service required for retirement has increased, while government payments have reduced. However, the French retire without worrying about tomorrow, because for them this is the beginning of a new, interesting, and secured life.

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Assignment ID
100000353
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CREATED ON
July 2, 2016
COMPLETED ON
July 3, 2016
Price
$14
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Essay Example Comments
TeeTee Taylor
December 9, 2016
TeeTee Taylor
Writer did well with short notice and I did not have to resend for corrections. Will use again! 5 STAR WRITER
madamalone
December 9, 2016
madamalone
thank you!!
clawracee34
December 9, 2016
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