The French are up in arms over retiring at 64. How do other countries compare? | CNN Business

The protest followed a strike of a similar magnitude in January and days of smaller walkouts and demonstrations in between. And more industrial action is planned for next week. What’s making the French so angry is a new retirement age that will still be one of the lowest in the industrialized world. Under a new law, pushed through parliament without a vote last week, the retirement age for most French workers will be raised from 62 to 64.

At nearly 14% of GDP in 2018, the country’s spending on state pensions is larger than in most other countries, according to the Organization for Economic Cooperation and Development. The French government has defended the retirement reform — which includes other changes — as necessary to keep the pension system funded. Taxes on current workers pay for the benefits of retirees, and as people live longer and more baby boomers retire the system would otherwise eventually go bankrupt.

Oh, the French have forgotten to appreciate the benefits from great overseas areas, and have become interested only in their pensions.

They should give the Ukraine money back to the people

This article is misleading. America’s retirement age starts at 62. It may not be full benefits, but they still get benefits. And for people who don’t qualify for Medicare, state programs can fill in that gap until full retirement at 67. France has none of those exceptions.

14 million subscribers and 10 comments 😄 no one believes in CNN trash and no one reads you. Trump is right. You have tarnished the careers of decent journalists

64 is definitely old enough.

1789, July 14

You can say many things about the french, but they have always put their heart and soul, a 100% in what they believe is right. They are without a doubt, the protest champions of Europe 🤟😮

Must be nice having tax dollars going towards things that help the people instead of just military and donor corporations.

🤣🤣🤣🤣🤣🤣🤣 Only French don't care how it is in the rest of the 'industrialized' world. First, they will be un-industialized soon with the gas from the US. Second they don't like that the laws are implemented without asking the people. It is not the US after all...

So what? 🤔

What is the US retirement age?

We don’t care what others have

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

French unions hold first national strike since government rammed through pension reform | CNN BusinessFrance's powerful unions are planning to come out in force for a nationwide strike Thursday in a rejection of a controversial retirement reform that was pushed through the country's legislature last week. Govts job is balancong interests. Rich ha e ot good while workers wgite and blue collat not so much. Macron a former banker has no empathy for working class. Worker pushback overdue. This wealth model keeps families poor RIP the guillotine is such a nasty device; yet French workers do have more benefits than most other civilized countries
Source: cnni - 🏆 326. / 59 Read more »