On average, pensions are 75 percent of workers' pre-retirement earnings, compared with an OECD average of 58 percent. The official retirement age is 62, but people who quit without enough quarters will see their pensions reduced. A points-based system would be applied to everyone, which Macron said would ensure that "for each euro contributed, everyone gets the same pension rights." "We won't touch neither the retirement age, nor pension amounts," he said in his campaign manifesto. Yet the single system would allow for adjustments down the road which would enable the government to reduce deficits as the population ages and people live longer after retiring.

Source: The Local December 07, 2019 08:45 UTC