March 17, 2023
2 mins read

French Senate adopts final version of pension reform bill

The text had been debated the day before by a joint committee of seven senators and seven members of the National Assembly…reports Asian Lite News

Amid nationwide protests, French Prime Minister Elisabeth Borne has activated an article of the country’s Constitution that allows the government to force passage of the controversial pension reform bill without a vote at the National Assembly.

“We cannot gamble on the future of our pensions, this reform is necessary,” Borne told the National Assembly late Thursday, where the government does not have an absolute majority.

“Because I am attached to our social model, and because I believe in parliamentary democracy, it is on your reform that I am ready to engage my responsibility,” Borne said.

According to Paragraph 3 of Article 49 (49.3) of the French Constitution, the Prime Minister may, after consulting with the Council of Ministers, impose the adoption of a bill by the National Assembly without a vote.

The only way for the National Assembly to veto this is to pass a no-confidence motion against the government. Just hours after Borne’s announcement, major unions in France called on working people in the country to participate in a 9th general mobilization on March 23.

Some 6,000 people demonstrated at Place de la Concorde (Concorde Square) in Paris against the use of Article 49.3 by the government, leading to clashes with security forces and arresting 38.

On Thursday morning, the French Senate adopted the definitive version of the pension reform bill, which will raise the retirement age by two years to 64 from 2027. A total of 193 French senators voted in favour of the bill, and 114 against.

The text had been debated the day before by a joint committee of seven senators and seven members of the National Assembly.

Borne laid out details of the pension reform plan in January, under which the legal retirement age would be progressively raised by three months a year from 62 to 64 by 2030, and a guaranteed minimum pension would be introduced.

Under the plan, as of 2027 at least 43 years of work would be required to be eligible for a full pension. In 2021, France’s expenditure on the pension system equaled 13.8 per cent of the country’s gross domestic product (GDP).

However, the country’s Pensions Advisory Council (COR) said that the share of pension expenditure would rise sharply from 14.2 per cent to 14.7 per cent between 2027 and 2032, due to a significant contraction in GDP.

In a report published by the COR in September 2022, the pension system watchdog said that from 2022 to 2032, the country’s pension system would be in deficit.

ALSO READ-French Senate passes Pension reform bill amid protests

Previous Story

UK govt to invest £900m to build own ‘BritGPT’

Next Story

‘Aviation crisis’ looms in Pakistan

Latest from -Top News

Sisi, MBZ cement ties

UAE and Egypt bolster ties through high-level talks in Abu Dhabi and a landmark cardiac care initiative delivering lifesaving treatment to rural communities The United Arab Emirates and Egypt reaffirmed their strong

‘UAE leads global fight against plastic waste’

UAE accelerates its fight against plastic pollution with a bold single-use plastic ban and expanded environmental policies to safeguard natural ecosystems for future generations The United Arab Emirates continues to lead the

70,000 Gaza kids starve

WFP warned that any further escalation of conflict could paralyse relief operations altogether, deepening the plight of civilians—especially children, the elderly, and vulnerable groups As the humanitarian crisis in Gaza intensifies, the

Prayers on the Mount

The Day of Arafat, considered the pinnacle of the Hajj pilgrimage, witnessed a congregation of believers from around the world As the sun blazed overhead and temperatures climbed to a sweltering 41°C,

EID MUBARAK!

UAE marks Eid Al Adha with housing support, children’s gifts, pardons, and cultural celebrations, reflecting a national spirit of compassion, unity, and shared community values Across the UAE, Eid Al Adha is
Go toTop

Don't Miss

France National Day celebrated at Expo 2020

France National Day was celebrated in the presence of Le

Emmanuel Macron wins French Presidential election

Le Pen has now been defeated twice in a row