Will France alter Retirement Age? Probably will...

[mickeyd]

I was unaware that 60 was the age of retirement in France. No wonder they Europe is in such a mess financially. Just sayin...

Although there has been much speculation that France’s legal retirement age of 60 – one of the lowest in Europe – would be abandoned, Mr Estrosi’s comments on national radio are the clearest statement yet of government intentions.
His comments are likely to give ammunition to unions planning a national strike on Thursday to protest against spending cuts and pension reforms.

FT.com / Europe - France poised to raise retirement age

 

[NW-Bound]

Oh yes! An entire nation of ERs. No can do!

Here in the US, there are only a few that could ER, and many are here on this forum, bragging about their good fortune. I am afraid the gummint is taking note. Someone is probably busy figuring out a way to "sock it" to these lazy "lumpen slum" dwellers.

 

[bbbamI]

Oh yes! An entire nation of ERs. No can do!

Here in the US, there are only a few that could ER, and many are here on this forum, bragging about their good fortune. I am afraid the gummint is taking note. Someone is probably busy figuring out a way to "sock it" to these lazy "lumpen slum" dwellers.

Oh, so that's why you won't post your pic.... Smart man.

 

[NW-Bound]

Well, I am only a part-time resident of this lumpen slum. I am still paying SS, you know?

I don't know about this "photo" thing. Many long-time forum members still have not come out of the closet, so why me?

 

[bbbamI]

Just..just because.....

 

[FIREd]

The legal retirement age is a political hot potato in France. But anyone who understands France's retirement system also understand that, in practice, the legal retirement age is meaningless for the vast majority of people anyways. People have to work for 40 to 41 years (depending on date of birth) in order to collect a full pension and only people who started working right out of high school can start collecting a full pension at the age of 60. Most people have to work longer. Somebody with 10 years worth of higher education would have to work until the age of 67 in order to get a full pension. And by the way, that full pension cannot exceed about 1,450 euros / month (as of 2009), so it is much less generous than SS. Just sayin....

 

[REWahoo]

As usual, the devil is in the details...

 

[rescueme]

[SIZE=-1]Average age[/SIZE][SIZE=-1] at which men stop working in various countries (Source : OECD 1995)[/SIZE]

• [SIZE=-1]UK : 63,6[/SIZE]
• [SIZE=-1]Sweden : 63,3[/SIZE]
• [SIZE=-1]Spain : 61,6[/SIZE]
• [SIZE=-1]Italy : 60,6[/SIZE]
• [SIZE=-1]Germany : 60,5[/SIZE]
• [SIZE=-1]France : 59,2 [/SIZE][SIZE=-1](only 15% of people between age 60 and 65 are still working : the lowest % in Europe)[/SIZE]
• [SIZE=-1]Netherland : 58,8[/SIZE]
• [SIZE=-1]Belgium : 57,6[/SIZE]

[SIZE=-1]as compared to :[/SIZE]

• [SIZE=-1]USA : 63,6[/SIZE]
• [SIZE=-1]Japan : 66,5[/SIZE]

Citation:

Retiring in France ; Practical Life ; pension system

 

[FIREd]

Civil servants have had a more generous retirement system which has allowed them to retire earlier than private sector employees. Also, many people who are 60+ years old right now (the leading edge of boomers) did not go to college and they have been working since they were 16-18 years old (42-44 years), and so qualify for retirement at age 60. That's probably why the average retirement age is so low right now. However, the public sector pension system is being realigned with the private sector pension system (a process that started a few years ago) and future retirees, who got more education, will have to work until the age of 63-67, depending upon when they started working. So I expect that the average will go up dramatically in future years whether the legal retirement age changes or not.