Pensions: Reform will push 50,000 people to ‘postpone retirement’ this year

Raising the statutory retirement age from September, the government’s flagship pension reform measure, “could result in 50,000 people postponing their retirement” this year, the High Council of Public Finance (HCFP) estimates.

They will be the first to bear the brunt of the reform: among the future pensioners of 2023, and there are probably more than 700,000 of them, as in previous years, one in fifteen will leave later than expected.

“Raising the age of majority by three months”, which was to increase to 62 years and 3 months on 1 September, “could (…) result in (…) about 50,000 people delaying their departure” does indicate the HCFP in its opinion , published on Monday, to the account sent to him.

“Incomplete” account

A text whose “incompleteness” does not allow “assessing the medium-term impact” of the pension reform, which should raise the age of majority to 64 years in 2030 at the rate of three months a year. But “given the available information”, this age-related measure “will lead to cost savings” of 200 million euros this year.

“Sustaining employment” of these assets should also generate “additional income”, not quantifiable, but “should be small”. In any case, not enough to compensate for the revaluation of small pensions, “the value of which (…) was provided for up to 400 million”.

If we add 100 million for “hardship and wear and tear measures” and the same amount for those “in favor of the transition from work to retirement”, the list of “additional costs” is 600 million euros.

Or “an estimated net worth of $400 million,” continues the HCFP, which concludes that “pension reform will have very little impact on public finances in 2023.”