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| Protesters striking against French Pension Reform Image Cred: Kiran Ridely/ Getty Image News/ Getty Image |
France has seen nationwide protests over French President Emmanuel Macron's proposal to raise the retirement age from 62 to 64.
A statewide walkout was attended by an estimated 1.28 million individuals, with the CGT union representing 3.5 million demonstrators. The protest, which has interrupted rail services, closed schools, and suspended fuel delivery, is likely to last until Wednesday.
This is a vital period for both parties, as the administration is hopeful that parliament will approve his plan to raise the pension age by two years by the end of the month. The CGT unions decided to extend strikes at all TotalEnergies locations, and the protest has crippled the Paris metro system.
The SNCF and RATP rail firms have joined the strike, and public opinion surveys suggest that the government believes its reform proposal is critical to preventing the pension system from failing. France is considering raising the retirement age by two years to 64, with a predicted 38-year timeframe from September to 2030. This would be phased in, increasing by three months every year, and would force workers to contribute to social security for 43 years in order to get a full pension.
For new retirees, the additional year would provide a basic pension that equals or exceeds 85 percent of the net minimum salary, and after year one of retirement, individuals earning a minimum income would have their pensions linked to inflation. According to reports on Al Jazeera, this could lead to a boost in employment rates among 60-64 year-olds.
Unions claim that moderate increases in payments might make the pension system sustainable, yet demonstrations have taken place across France to keep the government afloat. France is expecting a 33% rise in employment for the lowest 30% of the population, resulting in 17.7 billion euros in yearly pension contributions by 2030. This has resulted in public protests against the administration, with tens of thousands of people expected to participate.
Unions claim that moderate increases in payments might make the pension system sustainable, yet demonstrations have taken place across France to keep the government afloat. France is expecting a 33% rise in employment for the lowest 30% of the population, resulting in 17.7 billion euros in yearly pension contributions by 2030. This has resulted in public protests against the administration, with tens of thousands of people expected to participate.
Unions have threatened rolling strikes on public transportation, while Marine Le Pen's far-right National Front has expressed reservations about Macron's proposed measures. Protests have begun, and just one in every five regional and high-speed trains is scheduled to run, with the Esso refineries of Port Arthur shut down.
In other news reports, in recent years, neighboring European nations have raised the retirement age to reflect greater life expectancy. The official retirement age in Italy, Germany, and Spain has been raised to 67, while it is now 66 in the United Kingdom.
According to a study conducted by the French polling firm Elabe, the majority of French residents support the ongoing strikes.
It is unclear when the strike will end and if the government will finally give into the citizens demands. The economic structure is at risk because of this strike!
