French Prime Minister Elisabeth Borne laid out yesterday details of the country’s controversial pension reform plan, progressively raising the legal retirement age to 64 and proposing a minimum pension for all retirees.

Speaking at a press conference, Borne announced that France planned to raise, from 01 September, the legal retirement age entitled to a full pension, from the current 62 to 64 by 2030 at a progressive rate of three months per year.

Also, she added that starting from 2027, future retirees could receive a full pension if they would have contributed for 43 years.

Borne pointed out that the current pension reform plan would allow people to have a minimum pension of 1 200 euros per month.

‘Employees and the self-employed … who have contributed all their life with income around the SMIC (French minimum monthly wage) will now leave with a pension of 85 per cent of the net SMIC,’ she explained.

XINHUA

Source: The Namibian Press Agency