pensions represent an explosive subject in this campaign

Return of retirement at 60, status quo, generalization of the capitalization system, the proposals of the different parties involved in these Legislative elections are extremely varied, and of course do not have the same impact on public finances.

Retirement is one of the key themes of this legislative campaign. While the first round of these elections is scheduled for Sunday June 30 (second round, Sunday July 7), Édouard Philippe, for Horizons, warned that, according to him, it will be necessary to go a step further than the current reform. Even if he realizes that it is not very popular, the former Prime Minister assures that it will be necessary “new system” beyond that by distribution, otherwise “we will inevitably be inclined to push back the starting age”.

Faced with the aging of the population, the demographic equation for pensions will not hold up!
The pay-as-you-go system, as we recall, is the assets that pay the pensions of today’s retirees. There are already more than 17 million people over 60, almost a third of the population, and this number is increasing very quickly. Édouard Philippe was in favor of shifting the retirement age to 67 to make up for a widening pension deficit. According to the Court of Auditors, it would increase from one and a half billion in 2023 to more than 10 billion by 2027. Hence the idea of ​​a system where people themselves, individually, put money set aside for their retirement through savings plans and life insurance. The capitalization system already exists in part in company pension systems. Within the majority, Édouard Philippe’s position is not necessarily put forward by everyone. The Macronists, for their part, do not speak at all of capitalization, nor of further shifting the legal age beyond 64 years.

For the New Popular Front, the stated objective is a return to retirement at age 60. Sixty-two years from this summer, by issuing a decree, even if we cannot repeal the reform by decree. The cost of such a decision has not been specified, but is measured in tens of billions of euros. The left’s promise is to find funding through the reestablishment of the wealth tax, taxes, but also an increase in contributions.

At the National Gathering, Jordan Bardella must unveil the costing of the program on Monday June 24 and should therefore on this occasion clarify his position. The RN advocates the repeal of the Macron reform, the return to 60 years for those who started working before the age of 20 and have 40 years of service. Beyond that he speaks of “progressiveness”. What does that mean ? What about the worker who would have one more quarter, for example, who started at 20 years and 3 months. Will he leave at over 62, at 63, 64?

In fact, the RN leaves itself a way out by saying that it will see in a second time, depending on the audit of public finances. Implied, if the state of the funds does not allow us to return to 60 years, we will change our minds.