RFI: Hollande government partially reverses Sarkozy pension reform

01 November 2012

France partially reversed one of President Nicolas Sarkozy's changes to the pension system, opening the door for an estimated 100,000 people to retire at the age of 60 every year.

One of the most emblematic promises of François Hollande's presidential campaign was partially to reverse the increase of the retirement age from 60 to 62 under his predecessor Nicolas Sarkozy. Thursday's change applies only to those who started to work at 18 or 19 years old and paid into the national pension scheme for at least 41 years.

According to the government, the measure makes 28,000 people eligible to retire this year and 100,000 people every year that follows, fewer than the Socialists implied during the election campaign. The measures will cost €3 billion over five years. The government plans to make the sum up by a raise in retirement contributions by employers and employees.

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