French President Emmanuel Macron has announced he was pushing back his presentation of a major pensions overhaul denounced by labour unions, citing recent leadership changes at two opposition parties, reports FRANCE 24.
Both the Greens and the right-wing Républicains have elected new chiefs, and Macron said he would consult with them before unveiling details of the major reform on January 10th, instead of Thursday as planned.
“This will give a few more weeks for those... who have taken over to discuss some of the key elements of the reform with the government,” Macron said during the latest gathering of his so-called “national refoundation council.”
Macron says the retirement age needs to be extended to 64 or 65, from 62 currently—one of the lowest ages in the EU—in order to finance the pay-as-you-go system as more people live longer and enter the workforce later.
The system is likely to have a surplus of 3.2 billion euros this year, according to a September report from the government’s pensions advisory board (COR), but is forecast to fall into structural deficits in coming decades unless new financing sources are found.