French pension reform timetable on track
FRANCE – Labour minister Francois Fillon has confirmed that all the necessary decrees to enable pensions reform to be implemented on January 1 will be published before the end of the year.
Speaking at a press conference yesterday, Fillon is reported as saying: “All the decrees that must be done, will be done by the end of the year.” He added that, after a ministerial consultation, the government will then consult with the social partners. Reforms to the public sector pension will be implemented in the first half of 2004.
Also this week, Fillon announced that there would be a campaign to communicate the new pension reform to the French people. Two “practical guides” will be available from December 15. There will also be an internet site and two telephone services for information and assistance. The cost of the campaign is three million euros.
In addition, each “insured” will receive individual account information as of 2006, with details of their pensions rights and forecasts.
Also on January 1, the new individual retirement savings schemes will commence – the PEIR and the PPESVR.
The French pensions reform bill was finally passed in August this year.