French employers’ chief in pension threat

FRANCE – The head of France’s employers’ organisation has threatened to step down if the government does not address the issue of pensions for those outside the public sector.

Medef chief Ernest-Antoine Seilliere told the government this week: “There are 16 million private sector workers, their retirement is an essential question…The reform must include the private sector.”

For those workers in the public sector, it has been proposed by the French government that the working life should be raised form 37.5 years to 40 years in order to be eligible for a full pension, and Seilliere says a similar reform is necessary for the private sector so that contributions to second pillar pensions are longer.

“If nothing is done to reform the private sector pensions, then we will not be able to sort out the supplementary pension system,” added Seilliere.

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