French President Emmanuel Macron's pensions reform was officially promulgated into law on Saturday following approval from the constitutional court, as unions vow to oppose the controversial changes including raising the retirement age from 62 to 64. 🔔 Subscribe to France 24 now: 🔴 LIVE - Watch FRANCE 24 English 24/7 here: 🌍 Read the latest International News and Top Stories: Like us on Facebook: Follow us on Twitter: Discover the news in pictures on Instagram: ...(read more)
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On February 18, 2020, French President Emmanuel Macron signed a controversial pension reform bill into law overnight. Despite widespread protests and strikes against the bill, Macron's government maintained that the reform was necessary to ensure the sustainability of the pension system and address inequalities. The pension reform bill replaces the current system of 42 different pension plans with a universal points-based system, where all workers will accrue points throughout their careers and be entitled to a standard retirement income based on their total points. This will end the special pension schemes enjoyed by some professions, such as railway workers and Paris metro drivers. The government argues that the new system will be fairer, more transparent and more financially sustainable in the long term. However, opponents of the reform say that it will lead to workers having to work longer and receive lower pensions, particularly those in physically demanding jobs such as transport and healthcare workers. The reform has been met with widespread protests and strikes, particularly from transport workers who have disrupted rail and metro services across the country for weeks. The strikes have caused significant disruption to the economy and public services, with schools and hospitals also affected. Despite the strong opposition, Macron's government has stood firm in its commitment to the reform, arguing that it is necessary to address the country's current pension system deficit, which they say will reach €17 billion by 2025 if no action is taken. The signing of the bill into law is a significant win for Macron, who has faced intense criticism and opposition from unions and the public since he first announced the reform in December 2019. However, the government's handling of the protests and strikes has also been criticised, particularly in relation to police violence against demonstrators. The long-term impact of the pension reform remains to be seen, and it is likely that protests and strikes will continue in the coming months. However, with the bill now signed into law, Macron's government will move ahead with the implementation of the new pension system. https://inflationprotection.org/overnight-macron-enacts-pension-reform-bill-that-sparks-controversy-france-24-english/?feed_id=87984&_unique_id=643a731a3b0ad #Inflation #Retirement #GoldIRA #Wealth #Investing #Constitution #EmmanuelMacron #EXTRAIT #france24 #news #pensionreform #protest #Retirement #RetirementPension #Constitution #EmmanuelMacron #EXTRAIT #france24 #news #pensionreform #protest #Retirement
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