France’s unions have pledged to dig in for a prolonged fight against French President Emmanuel Macron’s plan to overhaul the country’s pension system
PARIS—France’s unions have pledged to dig in for a prolonged fight against French President, a new threat to his pro-business agenda.
Unions say raising the country’s retirement age is unnecessary and would penalize people who started working at a young age. France’s pension system recorded a profit of 900 million euros, equivalent to $955 million, in 2021 and is expected to post a €3.2 billion profit in 2022, according to a recent report by a pension advisory panel. But the system will start losing money after 2022, and could eventually threaten the government deficit-reduction targets, the report added. Mr.
Mr. Macron’s party, Renaissance, and its allies still control the most seats in the National Assembly, but not enough to retain the majority that allowed the French leader to steamroll the opposition during his first term. Far-right and left-leaning lawmakers have vowed to oppose Mr. Macron’s plans, while conservative lawmakers want French workers to retire at 63 with a minimum pension of €1,200.
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