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French mull reforms

The French social partners have began meetings to discuss the impact of state pensions reform on supplementary pensions.
Medef, the CGPME and the UPA met with the unions, CGT, CFDT, FO, CGC and CFTC to discuss how the reform will affect the two supplementary retirement fund associations, AGIRC and ARRCO.
According to Medef, the first meeting will not delve into what must be done just yet, but instead discuss the financial needs of the AGIRC and ARRCO and form a calendar of negotiations.
“The whole point is to determine the consequences of the new pension reform on the supplementary schemes,” says Cecile Vokleber, adviser at AGIRC-ARRCO. “The reform stated that, for lower-earning employees, the benefits must equal at least 85% of the salary.”

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