France to reform its pension system
The French government recently introduced legislation aiming to reform the country’s pension system by gradually increasing the minimum retirement age from 62 to 64, as well as the number of years of insured employment needed to be eligible for a full pension from 42 to 43 years.
To speed the passage of the controversial reform, the French government used its constitutional power to bypass the parliament vote. The reform is expected to enter into effect once its compliance with the French constitution is confirmed by May 2023.
