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Workers needs to pay into pensions for longer

Pensions-franceA REPORT into proposed changes for the French pension system has recommended that people should pay contributions for longer to get a full pension.

The Moreau report also said well-off pensioners should pay more taxes, and that there should be a small increase in employers' pension contributions.

The panel recommends increasing the contributions period needed for a full pension from 41.5 years now to up to 44 years, which could mean that many could end up having to work longer although the statutory retirement age would not change.

Increasing the contributions period was believed to be the best way to adapt the system to longer life expectancy, and that changing the actual retirement age was something to look at in the medium term.

The government is set to sit down with unions and business leaders in the coming weeks, although the threat of strike action and worker protests is likely to hang heavy over the discussions.

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