French President Emmanuel Macron should press ahead with his plan to raise the retirement age in the face of public opposition, OECD Secretary-General Mathias Cormann said on Friday.
(Bloomberg) — French President Emmanuel Macron should press ahead with his plan to raise the retirement age in the face of public opposition, OECD Secretary-General Mathias Cormann said on Friday.
“The pensions arrangements that were put in place and the financing of pensioning arrangements that was put in place at a time of lower life expectancy was based on certain cost assumptions that are no longer valid,” he told a news conference in Paris.
“Having gone this far, I’m sure the government in France will and I would suggest they should stay the course and see this through,” he added.
The OECD considers that the effective retirement age in France is low and that it’s important to redesign the pension system to take into account the rise in life expectancy.
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