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The mandatory state pension in France operates on a pay-as-you-go basis, redistributing contributions from current workers to retirees. It aims to provide 50% of a retiree's income based on their 25 highest earning years, up to a set ceiling (€41,136 annually in 2022).
On 23 July 2024, following the victory of the New Popular Front in the 2024 French legislative election, La France Insoumise proposed to scrap the pension reform plans in a vote, receiving support from the National Rally. [10]
The issue of pension reforms has been dealt with by various French governments over recent decades, specifically to tackle budget shortfalls. [5] France has one of the lowest retirement ages for an industrialised country, and spends more than most countries on pensions, with it amounting to almost 14% of economic output. [6]
Residency Eligibility: To retire in France, expats have to apply for a Long Stay Visa (like the VS-TLS resident permit equivalence), which requires proof of income equal to France’s minimum wage ...
All the schemes of basic and supplementary pensions in France work on the method of distribution. The schemes redistribute every year, in the form of pensions paid to retirees, contributions received that year from the assets. If the rules of the various pension plans in France correspond to different concepts, they are based on common principles.
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In France employees of some government-owned corporations enjoy a special retirement plan, collectively known as régimes spéciaux de retraite.These professions include employees of the SNCF (national railways), the RATP (Parisian transport), the electrical and gas companies (EDF and GDF) which used to be government-owned; as well as some employees whose functions are directly related to the ...
Dutton, Paul V. Origins of the French welfare state: The struggle for social reform in France, 1914–1947. (Cambridge UP, 2002). online; Mattera, Paolo. "Changes and turning points in welfare history. A case study: a comparison of France and Italy in the 1940s." Journal of Modern Italian Studies 22.2 (2017): 232–253. Nord, Philip.