Retirement time in France! opinions!!!

And the beat goes on in my belle France into 2020. Expect strikes to continue especially on the retirement issue. I had written before on it so I am just tagging update information here. Hope it helps you understand us ::)
France is still the champion of early retirement with an average posted at 60.8 years, according to the overview of pensions from the OECD,(Organisation for Economic Co-operation and Development) published Wednesday, November 27, 2019. Today, the age required to obtain a full retirement rate is 64 years on average in OECD countries for those who retired in 2018. It is 63 years in France due to the penalty imposed by Agirc-Arrco, (Agirc= L’Agirc est l’Association générale des institutions de retraite des cadres) (Arrco= l’Association pour le régime de retraite complémentaire des salaries) complementary scheme for private sector employees, since 2019. Info in French here : https://www.agirc-arrco.fr/particuliers/

Thus, in the OECD, the retirement age at full rate will be 66 years, as in France due to the lengthening of the contribution period provided for by the Touraine reform, combined with the application of the penalty of the AGIRC ARRCO. So much for the theory, but in practice, that is to say if we look at the real age at which active people retire, the picture is different. According to the OECD, the average age for leaving the labor market in France is 60.8 years, the lowest, and 4 years lower than the OECD average. The replacement rate, the difference between the last salary and the pension level after a full career with an average salary in the private sector, it stands at 74%, a figure well above the OECD average of 58%.

The international organization concludes that France offers very good social protection for retirees with one of the lowest poverty rates. But the problem is the complexity of the system. It is for this reason that the OECD gives a favorable opinion on the establishment of a universal system. And the reason the French government is trying and the unions are opposed as seen by the so far 26 days of strikes in France!

This analysis refers to a flow equilibrium but do not forget all the accumulated deficits which represent debt for future generations. The pension system needs to be balanced on average over the long term. An observation that could attract the ear of the government at a time when the question is what measures the executive could take to restore balance to the pension system by 2025. The OECD also criticizes the structure complex of the system with the concomitance of 42 different pension schemes, which would in particular have the effect of preventing workers from anticipating their future rights (indeed confusing). A remark which, contrary to the postponement of the retirement age, goes in the direction of the future pension reform carried by current administration in France, aiming to unify all these plans. The union response is the system is not broke and this idea will bring more people into the poverty level and making them work longer which they already got this benefit to work less than in the rest of the developed countries such as in the OECD.

The 2020 pension reform does not plan to raise the minimum retirement age, which will therefore remain fixed at 62 years. However, the reform introduce an equilibrium age in order to encourage active workers to leave later, via a system of discounts and premiums on pension amounts. This age was intended to be 64. This is a key point in the strikes as the unions are totally against this pivot age. They like to have the choice to retire at 62 period.

Some of the strikes going on or announce in the near future are
Strike of CTS buses and trams in Strasbourg from 24 December 2019 to 5 January 2020. Unlimited national strike at SNCF from December 5, 2019. Unlimited strike at RATP from December 5, 2019. National strike by lawyers from 6 to 12 January 2020
National strike in the refineries from 7 to 10 January 2020. General and national strike on January 9, 2020. National strike of doctors, lawyers and pilots on February 3, 2020. National strike in air transport from December 5, 2019.
Plan ahead if coming over and enjoy the trip. And remember, happy travels, good health, and many cheers to all!!

Paris1972-Versailles2003

Ok so today I come to you on a non travel related subject ,really; it could be too lol! Well , my dear readers and travel buddies, I am getting to that age, yes the golden egg or whatever, and its time to think about retirement!!

I am in in what could could be my last full year of my working life per se. Not that I would not continue to dabble in consulting work later on, but to finally get my retirement benefits and start enjoing time and travel even better or at least I hope.

So let me give some light into the subject in my belle France. As the minimum retirement age is 62 years, it is important to anticipate and wonder which French cities are the most accessible or offer the most enjoyable living environment. The cities of the west of France and especially of the…

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4 Comments to “Retirement time in France! opinions!!!”

  1. Congratulations on achieving that golden status. If I were you, I’d choose the south west because of the forests, the lakes and the sea. I love all of France, but Aquitaine wins for me as a place to settle long term. Good luck and let us know what you decide. 👍

    Liked by 1 person

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