Latest news and analysis of pensions, asset management, regulation and trends in France from our award-winning journalists.
The rationale of the reform is simple: the rising life expectancies combined with decreasing birth-rate have accelerated the aging of the French population
Fierce opposition from trade unions and a large part of the political spectrum did not manage to stop Emmanuel Macron’s plan to reform the French pension system. The new framework kicks in this month, and the long-term sustainability of public pensions is secure. However, French workers will have to work longer into their lives, and their standard of living will decline.
After much opposition, profound changes to the retirement system take effect this month
Fierce opposition from trade unions and a large part of the political spectrum did not manage to stop Emmanuel Macron’s plan to reform the French pension system. The new framework kicks in this month, and the long-term sustainability of public pensions is secure. However, French workers will have to work longer into their lives, and their standard of living will decline.
The French pension system is in good health with a first-pillar pay-as-you-go system in surplus. But long-term forecasts are cause for concern, showing that the French state will have to raise expenditure on pensions from the current 13% to nearly 15% of GDP to maintain the system.
A new French law could compel companies to disclose their climate plans
Assets managed by PER supplementary pension products could reach €200bn by 2026
September sees the enactment of controversial retirement reforms passed by presidential decree earlier this year, bringing 42 occupational regimes together
FRR and PUBLICA are among the growing number of European pension funds developing proprietary benchmarks to achieve their sustainability objectives
FIR, a French sustainable investment lobby group, says that only nine companies published climate resolutions so far out of 795 on the Euronext Paris stock exchange
Plus: New biodiversity credits initiative between UK and France
The French energy firm refused to table a similar resolution at last year’s AGM, but investors have found a way to prevent this from happening again
The controversial pension reform proposed by Macron’s government seeks to merge France’s 42 separate pension schemes into a single, universal points-based system
“The idea is to grow distribution capacity in France and to increase our SRI capabilities,” says MAPFRE’s chief economist for investments
The association is looking to promote a European standard for ESG data
The government will require companies to incentivise workers to stay at work beyond age 60 by improving the quality of their working lives
The Netherlands and Belgium must push through reforms to their pension systems to receive COVID recovery grants from Brussels
The scheme has awarded the active mandates to AXA Investment Managers and FundLogic
Asset management CEOs tend to be a clever bunch, but there cannot be many who are familiar with the work of Antonio Gramsci, the 20th century Italian socialist philosopher.
Finnish Centre for Pensions compares totality of contributions in eight European countries
Myriam Métais andCécilia Lyet (pictured) of France’s Caisse des Dépôts talk to Carlo Svaluto Moreolo about managing the reserves of Ircantec, the supplementary scheme for public sector employees
The French pension system is in good health with a first-pillar pay-as-you-go system in surplus. But long-term forecasts are cause for concern, showing that the French state will have to raise expenditure on pensions from the current 13% to nearly 15% of GDP to maintain the system.
The French state faces growing expenditure on pension but attempts to reform the system have stalled
Clémence Droin, senior engagement manager at Indefi, talks to IPE about the two main areas of focus for the French institutional investment community lack of a regulatory push from pension reforms
France’s financial institutions must report on biodiversity impacts but face a lack of corporate data push from pension reforms
Under Emmanuel Macron’s second presidential term, the French government hopes to achieve an overhaul of the first-pillar pension system
Move follows recommendation of financial regulator and drop in number of companies covered by independent research
A dedicated pensions mutual, UMR considers the FRPS regime to be better suited to it as a long-term actor
Divested companies include Anglo American, BP, Mitsubishi, and Repsol
Result keeps asset shrinkage to €315m
Lyxor is now a subsidiary of Amundi and in a second phase will be merged into Amundi
AXA economist regrets US political inability to bring in “bonus/malus system” for power generation firms
French public sector scheme also tightening coal exclusion criteria, upping allocation to energy transition investments
Discussions ‘symptomatic’ of wider trends in pensions and investments, says consultant
President Macron’s pension reforms were pretty much shredded by the pandemic. Asset managers and policymakers had been hoping that a successful reform programme would channel savings into supplementary pension vehicles like the FRPS. Instead, progress has been very slow indeed. We also profile the public sector scheme Ircantec and highlight Indefi’s latest research on the French institutional market.