October 2024
09Oct

French lawmakers weigh political risk of curbing boomers’ costly pensions

 France's government has put the country's explosive pensions issue back on the agenda as it seeks to reduce a gaping budget hole. But this time, it wants pensioners to contribute to belt-tightening efforts themselves. It also wants lawmakers used to pandering to older voters to back it. Economists and analysts say that if France really wants to tackle its bloated public spending, the baby-boom generation - those born between 1946 and 1964 - must take a hit to their pensions,...

October 9, 2024
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September 2024
30Sep

Two million French seniors live in poverty: charity report

Two million seniors in France live below the poverty line, warns a charity that works to alleviate isolation amongst the elderly. It pointed to a rise in poverty, particularly among older women and people living alone. The poverty level of people aged 60 and older is on the rise, the Petits freres des pauvres (Little brothers of the poor) charity in its annual report published Monday. In 2024, some 11 percent of elderly people live under the poverty line, compared to eight...

September 30, 2024
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August 2024
26Aug

The Average Retirement Age in 2024: US vs. France

Do Americans really work themselves to death, as the media so often portrays? Likewise, do Europeans really avoid work like the plague? Of course not — but that doesn’t mean the retirement looks identical in countries like the US and France. While the average retirement age differs, so too do the benefit systems in each country. Consider the following facts as you compare retirement in the US to France, before booking a one-way ticket to the Continent. Also check out these reasons for using a financial advisor...

August 26, 2024
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July 2024
23Jul

French leftists announce legislative steps to scrap Macron’s pension reform

-The leftist France Unbowed party announced legislative steps on Tuesday to try to scrap French President Emmanuel Macron's pension changes and reverse a rise in the legal retirement age to 64 from 62. The right-wing National Rally (RN) quickly offered its support for the legislation proposed by France Unbowed (LFI), potentially boosting its chances of winning parliamentary approval. Cancelling the pension reform, signed into law last year and aimed at protecting state finances and boosting productivity, is a key goal of...

July 23, 2024
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January 2024
18Jan

France joins list of countries where birth rates are declining

France’s population is older than ever, and its citizens are having fewer children. Just 678,000 babies were born in the country last year, the lowest number since 1946. The decline is primarily due to women having fewer children or none at all, according to Ined, France’s National Institute of Demographic Studies. The nation’s population still increased slightly last year, thanks to migration and a record high life expectancy of 85.7. These trends are not unique to France — births are...

January 18, 2024
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August 2023
23Aug

How French pensions will change on September 1st

To say Macron's pension reforms were controversial is a bit of an understatement - back in 2019 the reforms led to the longest continuous transport strikes ever seen in France. The legislation was paused during the pandemic, but when it was re-introduced in 2023 there followed months of strikes and the biggest street protests in France since 1968. More than 2 million people took to the streets and there were violent clashes in French cities including Paris, Rennes and Nantes. Eventually,...

August 23, 2023
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June 2023
08Jun

French parliament chief to block bid to axe pension reform

The law was enacted following months of mass protests via a controversial constitutional mechanism whereby the government avoided a vote in the lower-house National Assembly. Speaker Yael Braun-Pivet, who is from President Emmanuel Macron's centrist party but is officially neutral, confirmed she would reject on constitutional grounds the bid to introduce new legislation, infuriating its backers. Speaking to BFM television, she said an amendment proposed by the small LIOT faction in parliament and backed by left-wing parties would be declared "inadmissible". She...

June 8, 2023
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06Jun

French unions make ultimate push to derail pension reform

Hundreds of thousands of people are expected to take to the streets across France on Tuesday for what will be the fourteenth day of demonstrations since January to oppose French President Emmanuel Macron's pension reform. Authorities expect up to 600,000 people at the demonstrations nationwide, less than half the peak on 7 March, when 1.28 million were counted by police. In contrast to the earlier phase of the movement, only limited disruption is expected on public transport though some flight cancellations...

June 6, 2023
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May 2023
22May

France pension protest held on outskirts of Cannes Film Festival

Protests over pension reforms have roiled France in recent months, but demonstrations have been kept largely at bay at one of the country’s glitziest events, the Cannes Film Festival. On Sunday, dozens of protesters gathered in Cannes to oppose the raising of the reforms pushed through parliament by President Emmanuel Macron’s government. Those protests, however, were far removed from the central hub of the festival, the Palais des Festivals, or Cannes’ seaside boulevard, the Croisette. Instead, they gathered on the...

May 22, 2023
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16May

Macron promises €2 billion in tax cuts for French middle class

As part of his continued attempt to move past his government’s contentious pensions reform, French President Emmanuel Macron has announced two billion euros of tax cuts for the middle class before the end of his term. In a televised interview Monday evening, Macron said he wants to “concentrate” two billion euros of tax cuts on people “who work hard, who want to raise their children well and who today, because the cost of living has increased… have trouble making ends...

May 16, 2023
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