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davidg

Boomers Overload French Pension System

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There have been an increasing number of stories of new pensioners in distress in France. Some have had to sell their houses, sometimes at firesale prices. Others have had to make other economies or even eat at the many soup kitchens that exist in the country. The problem, they are not receiving the state earnings related pension they are entitled to.

The problems seem to be multiple: An increasing number of new pensioners, a reorganistion of the claim system with increased computerisation, the firing of a lot of claims staff; in the North Picardie 211 claims staff has been laid off as part of government austerity measures. Most of the pension schemes are already in a precarious financial situation. The result is that some pensioners have waited more than a year to receive any money. With more and more pensioners and unemployment only set to increase in 2015 things can only get worse.

http://www.cbanque.com/actu/50182/encore-3.000-dossiers-de-retraite-en-souffrance-en-nord-picardie

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There have been an increasing number of stories of new pensioners in distress in France. Some have had to sell their houses, sometimes at firesale prices. Others have had to make other economies or even eat at the many soup kitchens that exist in the country. The problem, they are not receiving the state earnings related pension they are entitled to.

The problems seem to be multiple: An increasing number of new pensioners, a reorganistion of the claim system with increased computerisation, the firing of a lot of claims staff; in the North Picardie 211 claims staff has been laid off as part of government austerity measures. Most of the pension schemes are already in a precarious financial situation. The result is that some pensioners have waited more than a year to receive any money. With more and more pensioners and unemployment only set to increase in 2015 things can only get worse.

http://www.cbanque.com/actu/50182/encore-3.000-dossiers-de-retraite-en-souffrance-en-nord-picardie

...well the French have taken the most out of Europe and they were reducing their public retirement schemes recently ...and certainly not increasing retirement age...but in a failing Europe things can only get worse...and if Labour get in we will go the same way...... :rolleyes:

Edited by South Lorne

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Ah, the joys of large, unfunded pension schemes.

And reducing the retirement age, whilst the average life expectancy increases.

Welcome to MillbandWorld!

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Ah, the joys of large, unfunded pension schemes.

And reducing the retirement age, whilst the average life expectancy increases.

Welcome to MillbandWorld!

...ha..ha...yes....he doesn't get anything ...we the taxpayer fund his salary, pension and the income tax he pays...he does not actually pay any ...the taxpayer pays it....he's only used to an unfunded world ...the politics and economics of doom...... :rolleyes:

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Well it does seem like France is a failed state......well, not quite yet.

A least here in the UK we have Atoze to protect us.

I get a pension forcaste once every 5 years to see that my NI contributions are being taken account of.

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Well it does seem like France is a failed state......well, not quite yet.

A least here in the UK we have Atoze to protect us.

I get a pension forcaste once every 5 years to see that my NI contributions are being taken account of.

...like the weather ...a forecast ..is a forecast.... :rolleyes:

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It would certainly be an interesting way to organise a default, simply don't process the pensions.

...acting like an old style banana republic ...most of them today are probably in a healthier state .... :rolleyes:

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Didn't the current French President win the election on the back of promising to reverse the increase in the pension age? Economic reality trumps political ideology and fanciful promises.

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The story sounds a lot like our NHS. Extravagant promises, but in reality a lottery.

Lesson: don't rely on them. Don't stop work until you've secured that pension. Don't stay in Blighty waiting for the urgent operation they promised for next week unless you're already making arrangements for private treatment the week after ...

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Very interesting. First sign of state pension default?

I doubt it, they will just change the goal post for new entrants.

I met a French woman by chance aged 60 about four years ago and indeed she had had a wrestle to get both her state and teacher's pension, but it was going through.

She also had the usual boomer story of being brought up (in the Italian Alps) in abject poverty, so I guess that yarn is universal across Europe.

Ever notice how much more forward foreign women are when you get talking, she was proposing a business venture 30 minutes after meeting...no chance of that sort of thing with an English woman. Unfortunately the wife would have said no.

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...well the French have taken the most out of Europe and they were reducing their public retirement schemes recently ...and certainly not increasing retirement age...but in a failing Europe things can only get worse...and if Labour get in we will go the same way...... :rolleyes:

I live in France and pay into the state system.

The pension age is being extended , not reduced. A common misconception - fuelled by the usual MSM in the UK ?

When I started working in the early 90s, I was told I'd need 35 yrs of contributions to get the full pension (state plus employee contributed "semi private" pension). ie. I'd be 60.

In the early 2000s, that had risen to 39 yrs contributions.

Today, it's 42.5 years contributions.

Effectively, I cannot retire on full pension until I'm 67. Hardly the message the press in the UK want to tell.

I can retire at 60 if I wish. My choice. But the state pension will be less than half of the 67yr value. So not worth doing...unless I have my own savings and pensions to compensate ;)

The public sector is different , but the state has been cutting back on their entitlement sin the mid-2000s.

Less fonctionnaires and many now employed on short term contracts with no fonctionnaire status or entitlements.

The current boomers are skewing the system, I agree. 15-20 years from now it will be quite different.

Edited by Agentimmo

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I met a French woman by chance aged 60 about four years ago ...

<snipped>

She also had the usual boomer story of being brought up (in the Italian Alps) in abject poverty, so I guess that yarn is universal across Europe.

Ever notice how much more forward foreign women are when you get talking, she was proposing a business venture 30 minutes after meeting...no chance of that sort of thing with an English woman. Unfortunately the wife would have said no.

The tend to look after themselves a lot more ... residents from the French/Italian alps....I'll bet the 60yr old you met had the figure and looks of a 40yr old British woman :D

Do tell !

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The tend to look after themselves a lot more ... residents from the French/Italian alps....I'll bet the 60yr old you met had the figure and looks of a 40yr old British woman :D

Do tell !

Pretty much describes her. She was actually getting over some English bloke at the time, a married one.

Edited by crashmonitor

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The tend to look after themselves a lot more ... residents from the French/Italian alps....I'll bet the 60yr old you met had the figure and looks of a 40yr old British woman :D

Do tell !

I've met some 40 year old British women, no thanks!

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