French government lowers pension age for some
PARIS, June 6 — France’s new Socialist government has signed off a decree to partially lower the pension age to 60 for people who have worked since early in life, Social Affairs Minister Marisol Touraine (picture) said today.
President Francois Hollande, who took power in mid-May, made rolling back his predecessor Nicolas Sarkozy’s pension reform a key part of his election manifesto. The decision to press ahead with it comes despite an EU warning that France will struggle to meet its fiscal targets without spending cuts.
Speaking to reporters after a cabinet meeting, Touraine said the measure would cost €1.1 billion (RM4.4 billion) a year up to 2017 and €3 billion thereafter. — Reuters