French PM Rejects Return to Retirement at 62

French PM Rejects Return to Retirement at 62

No Reversal on Retirement Age

Prime Minister François Bayrou has ruled out the possibility of returning the retirement age in France to 62. He reaffirmed the government’s commitment to implementing the 2023 pension reform, which raised the age to 64.

Pressure from Unions and Opposition

Bayrou, leading a fragile minority government, had reopened discussions on the pension reform to gain support from opposition Socialists. However, he insisted that any proposed changes must address the pension system’s funding deficit.

Financial Concerns

France’s audit office has projected continued deficits in the pension system even after the reform. Bayrou stressed that unions and employers involved in the negotiations must recognize the financial constraints.

Next Steps for Pension Reform

While Bayrou acknowledged that adjusting the retirement age is not the only possible reform measure, he made it clear that without an agreement from unions and employers, the government will proceed with implementing the current law.