France's generous pensions stem is currently at the centre of a major political battle, with president Emmanuel Macron intent on reforming the system but running into stiff resistance from unions. Suggested improvements were;Increasing the level of funded contributions thereby increasing the level of assets over timeIncreasing the state pension ageIncreasing the labour force participation rate at older ages as life expectancies riseImproving the regulatory requirements for the private pension systemThe report also noted that France had one of the largest gaps between its state pension age and the average projected life expectancy. The suggestions around pension age could increase the already bitter controversy around the subject. The reform of the pension system is one of the Macron government's aims over the next two years, and a blueprint has been drawn up to simplify the current highly complicated system - which has 42 separate pension regimes - and align the state and private systems. Currently certain groups such as rail workers retire early - from 50 for train drivers and 55 for Metro workers - under their own special pension regimes.

Source: The Local October 24, 2019 14:48 UTC