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Does France’s Pension System Actually Need Reform?

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France has been hit by country-wide protests over President Macron’s pension reforms that would simplify the system and increase the minimum pension age from 62 to 64. In this video, we’ll take a closer look at these reforms and try to figure out whether Macron is right that the current system is simply unaffordable.

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1 – https://en.wikipedia.org/wiki/Retirement_in_Europe
2 – https://www.ft.com/content/e946e5c5-edd8-4d14-bf16-e66027860a84
3 – https://en.wikipedia.org/wiki/List_of_European_countries_by_life_expectancy
4 – https://www.lemonde.fr/en/politics/article/2023/01/10/pension-reform-france-to-raise-minimum-retirement-age-to-64-by-2030_6011092_5.html
5 – https://twitter.com/Nicolas_Colin/status/1637295287868829697
6 – https://www.oecd.org/tax/tax-policy/taxing-wages-france.pdf
7 – https://www.economist.com/the-economist-explains/2023/01/31/why-is-the-french-pension-age-so-low
8 – https://www.lemonde.fr/en/france/article/2023/01/21/fertility-why-france-remains-a-model-in-europe_6012434_7.html
9 – https://ednh.news/frances-pension-reform-whats-on-the-table/
10 – https://www.lemonde.fr/en/france/article/2023/03/15/france-s-aging-population-is-a-challenge-that-goes-far-beyond-the-pensions-issue_6019391_7.html
11 – https://www.economist.com/the-economist-explains/2023/01/31/why-is-the-french-pension-age-so-low
12 – https://www.reuters.com/world/europe/later-retirement-income-guarantees-whats-frances-pension-reform-2023-01-31/
13 – https://www.newgeography.com/content/004906-the-french-housing-bubble-also-has-roots-excessive-land-use-regulations
14 – https://www.economist.com/the-economist-explains/2023/01/31/why-is-the-french-pension-age-so-low
15 – https://www.economist.com/europe/2010/07/15/calling-time-on-progress

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21 Comments

21 Comments

  1. @jeffaddis5715

    February 18, 2024 at 2:31 am

    Another point not raised is the "inequality" of the pension calculation for the average worker and the beneficiaries of the Special Retirement plans. While Special Retirement plans (employees of nationalized companies and public servants) calculate pension amount based on the last 6 months of income, private sector employees have their pension calculated on the last 25 years. And of course wage contribution to pension is higher for private compared to public sector. Under the banner of Equality, Fraternity and Liberty, the French system hides much "special" status. How addressing this would help finance the system?

  2. @Susanne-zuku

    February 18, 2024 at 2:31 am

    Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

  3. @markPwilliams

    February 18, 2024 at 2:31 am

    Well explained, the best thing is investing your money rather than just leaving it in your bank accounts, where it ends up loosing it's value over time. I used to be a victim of this, until I met a financial advisor "Leticia Zavala Perkins" , she explained to me why I must invest my money and have my retirement planned. Now I can proudly say I make so much every week from my investment and my retirement account is growing bigger and better. I am not worried of getting older anymore.

  4. @hersdera

    February 18, 2024 at 2:31 am

    Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determines a lot of things, my parents both spent same number of years in the medical profession, my mom was investing through a financial advisor while my dad through the 401k. On retirement, my mom retired with about $5million, while my dad retired with roughly $3.8million.

  5. @shaunrobbins5902

    February 18, 2024 at 2:31 am

    Unaffordable due to horrible policy doesn't count

  6. @caver38

    February 18, 2024 at 2:31 am

    Rubbish

  7. @ericphantri96734

    February 18, 2024 at 2:31 am

    Affrican steal egg form death prostitutes can scare any living population

  8. @ericphantri96734

    February 18, 2024 at 2:31 am

    If you had choice of lump sum of 1/5 of estimate life expectancy subtract current age because no jobs left or get monthly payment could bankrupt the department of defense before can catch up to PLA with AK 47 and trash pile up in all cities

  9. @ericphantri96734

    February 18, 2024 at 2:31 am

    Translation it means six large countries or six billion death

  10. @erictonyes

    February 18, 2024 at 2:31 am

    I reckon those fiery infernos are more accurately described as "riots". Lets not sugar coat them with the word "Protest"

  11. @erictonyes

    February 18, 2024 at 2:31 am

    Ditch France, come to America.

  12. @KiNgLoStSouL

    February 18, 2024 at 2:31 am

    Yeah just like i need my gas at 4 bucks +

  13. @Jaxck77

    February 18, 2024 at 2:31 am

    So the argument against Macron is “oh we had this idea in our heads that we didn’t have to work”. For fuck sake.

  14. @lievenmoelants

    February 18, 2024 at 2:31 am

    Well, for the billionaires there is always more money to be handed out; but not for workers and pensioners. Balancing the books is always done by cutting in workers and pensioners, not in taxing correctly. Pls. do not perpetuate this fallacy of balancing the books: a country is not a company.

  15. @user-sf7kl9uh7k

    February 18, 2024 at 2:31 am

    They're dreaming, and already have high taxation on business.

  16. @frank24180011

    February 18, 2024 at 2:31 am

    No just like all governments today take from the poor and leave the rich alone to make more money for themselves.

  17. @Zomerset

    February 18, 2024 at 2:31 am

    Thank you for the video. It is refreshing to hear all the facts, so I can make a good judgement of the French protester. Prior to this, it came across as though they just weren’t happy to work any extra two years.

  18. @muhammadm4582

    February 18, 2024 at 2:31 am

    pension is ponzi scheme. lol

  19. @simonburrows137

    February 18, 2024 at 2:31 am

    as an American my sympathy for the French here is pretty low for a few reasons
    1 they still have colonies who help pay their bills and no one will help them retire
    2 Most of the world lacks both healthcare and a pension system let alone high quality either
    3 really really strong labor protections create unemployment and drive down productivity, most of the world has too few labor protections but France is a rare exception where they protect workers so much they stifle businesses lowering the income they have to work with
    4 Macron is simply right that something has to change because cleaver money tricks and economies of scale can't get over the fundamental issue that the ratio of people doing work to people consuming value is dropping. however, doing so in an undemocratic way is not something ill try to argue as good

  20. @TIB1973

    February 18, 2024 at 2:31 am

    if you can't make it work at only 65 million people, you are in some serious problems when you get to 350 million people.

  21. @bowlampar

    February 18, 2024 at 2:31 am

    As far as Macron is concerned, a simple act of raising the tax rate of his corporate buddies is not a preferred method for fixing its national 'expensive' pension fund system, digging his way into retiree's golden fund on benefit collection date is a less stressful political play for him.

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Sources
Le Pen ruling
https://www.bbc.com/news/articles/cvgdlprp1r3o
https://www.lemonde.fr/en/politics/article/2026/07/08/understanding-the-judges-ruling-in-le-pen-s-appeal-trial-serious-offenses-but-light-sentences_6755270_5.html?srsltid=AfmBOop8MvrmAXXnkbdvH6ZIU7F64rHVChHhihtUTmEHMMGDLfOTFeqH
https://www.ft.com/content/82523acf-a51d-4e6a-bb19-60d0c7899b6d?syn-25a6b1a6=1

Polymarket data
https://polymarket.com/event/next-french-presidential-election

Polling
https://en.wikipedia.org/wiki/Opinion_polling_for_the_2027_French_presidential_election
https://tolunacorporate.com/wp-content/uploads/2026/05/Rapport-Toluna-Barometre-Presidentielle-2027-Vague-2-M6-RTL-Mai-2026.pdf

Comparing Bardella and Le Pen
https://www.politico.eu/article/france-marine-le-pen-jordan-bardella-2027-campaign/
https://www.ft.com/content/82523acf-a51d-4e6a-bb19-60d0c7899b6d?syn-25a6b1a6=1
https://www.nytimes.com/2026/05/29/world/europe/france-presidential-election-le-pen-bardella.html

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