France Considers Reversing Retirement Age to 62 Years and 6 Months

paris - The French government is considering reversing the planned increase in retirement age from 62 years and 6 months to 62 years and 9 months, in response to negotiations with unions and employers.

To avoid a vote of no confidence, French Prime Minister François Bayrou has asked unions and employers to renegotiate the controversial pension reform of 2023. In his general policy statement on January 14, Bayrou announced that social partners have three months to 'seek a new way to reform pensions.' This move aims to secure the support of the Socialist Party, crucial for preventing a cabinet collapse.

Bayrou stated that the unions have 'balanced and fair ideas' to improve the criticized pension reform. The first talks between social partners are scheduled for this Friday.

If an agreement is reached, the legal retirement age for those born in 1962, 1963, and 1964 would be reversed to 62 years and 6 months. This adjustment would potentially allow individuals born in 1965, 1966, and 1967 to retire at 63 years old, instead of 64.

France's move stands out within the EU, where retirement ages in most countries are 65 years or higher. In the Netherlands, the pension age is currently 67 years, set to increase to 67 years and three months by 2028.

If a financially viable agreement is reached by the social partners, the proposal will be presented to parliament. However, if no agreement is reached, Bayrou warned that the current reform would remain in effect. This warning stirred anger from socialist leader Olivier Faure, who deemed a 'return' to the 2023 pension law unacceptable.

Mathilde Panot, leader of the far-left party LFI, has announced a vote of no confidence, supported by her party as well as communist and ecological factions. The vote is scheduled to take place Thursday afternoon in the Assemblee Nationale.