?The French Senate has approved a gradual increase in the retirement age from 62 to 64 years, despite weeks of protests that have drawn millions into the streets and crippling strikes. The Senate voted in favour of the article raising the age by 201 to 115. President Emmanuel Macron’s overhaul of pensions must still be approved by the lower house of the French parliament, the National Assembly, where lawmakers have shown more resistance. In addition to pushing the retirement age back to 64, Macron also wants to accelerate the increase in the period of payment required for a full pension. His government says the unpopular measures are needed to shore up the scheme for the future. Labour unions denounce the plan and workers at oil refineries, schools, airports, rail systems and other places have walked off their jobs. Protests have been held in cities and towns across France. The current retirement age is 62 years. In practice, however, it can begin years later because those who have not paid in long enough to be entitled to a full pension work longer. At the age of 67 there is a pension without deductions, regardless of how long it has been paid in. The government aims to keep this rule. Under the reforms, the monthly minimum pension would increase to around pound 1,200 ($1,260). The legislation is still bouncing between the chambers. Despite the Senate’s approval, the legislative body is scheduled to keep debating the reforms this week. Senators and lawmakers from the National Assembly will also try to hammer out a compromise plan. The National Assembly has also considered the legislation but has yet to vote on the central article on the higher retirement age. Macron, who does not have a majority in either chamber, could also bypass lawmakers and order the changes be implemented.
Source: Ghana News Agency
