How much will the pension be?
The full pension of future retirees may not be less than 85% of the minimum wage, that is, about 1,200 euros (1,287 dollars) when the reform comes into force.
The measure will apply to those who are already pensioners, the Prime Minister explained in January.
In the private sector, the calculation of the pension is made based on the 25 best years and in the public sector on the last six months.
What will happen to the special regimes?
Most special pension schemes, such as those for Paris public transport RATP, energy companies or the Bank of France, will no longer apply to new hires in these sectors, but current workers will retain their privileges.
Specifically, the so-called “grandfather clause” implies that in these companies only contracted workers will be subject to the general regime from the moment the reform enters into force, which should be next September.
Recruitment of the elderly
One of the fears of delaying the retirement age is to further aggravate a particularly serious problem in France, the low activity rate of older workers, who are often unemployed or inactive.
To avoid this, the French government plans to facilitate the return to work of retirees so that they improve their pension and make progressive retirement more flexible, which allows them to work two years part-time before retiring, collecting part of the pension.