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French Raise Retirement Age To 62

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http://news.bbc.co.uk/1/hi/business/10326002.stm

France's retirement age will be raised from 60 to 62 over the next eight years as part of sweeping pension reforms, the government has announced.

French labour minister Eric Woerth told reporters that working longer was "inevitable", and necessary to balance the public finances.

The move is designed to reduce France's pension costs and bring public borrowing down.

The move is likely to be met with stiff resistance from labour unions, however.

Demonstrations against raising the retirement age were seen even before the measure was formally announced, with more strikes and protests expected in the coming months.

But Mr Woerth said it was time for France to follow the lead of other European countries in addressing it deficit.

"All our European partners have done this by working longer. We cannot avoid joining this movement," he said.

The pension crisis is everywhere.

People need to work longer, the retirement age should be the same across the entire EU.

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WTF:

******ing hell !! No wonder when you go to France it seems full of golden tanned 50+ year olds just wandering about enjoying life.

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******ing hell !! No wonder when you go to France it seems full of golden tanned 50+ year olds just wandering about enjoying life.

That's the case in most places in Europe.

Your private sector employer, if you earn - say- 1500€ per month, has to pay the state another 1500€ for your state pension fund.

It's the same in Italy. The cost of employing someone is obviously higher, but then the pensions are "sort of" funded.

Even the state, as an employer, has to contribute to your state pension.

I think it is actually a better system.

Oh, and they all get a huge final redundancy pay, no matter the circumstances, normally 1 month worth of net salary per year's service, plus compounded interest.

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  • 153 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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