French Report Proposes Raising Retirement Age to 67.6 by 2070

A French government-commissioned report proposes raising the retirement age to 67.6 years by 2070 as a measure to balance the national pension system. The report, authored by the Pensions Advisory Council (COR), projects that without reform, the system will face a deficit of up to €15 billion annually by 2030. The proposal has sparked immediate backlash from labor unions and left-wing political parties, who argue it unfairly burdens workers. The current legal retirement age in France is 62, with a full pension age of 67. The report suggests gradual increases starting in 2026, aiming for long-term solvency amid demographic pressures. President Macron's government has not yet endorsed the proposal, but it aligns with previous reform efforts that triggered widespread protests in 2023.

Global Impact

Economically, the proposal signals France's commitment to fiscal consolidation, which could stabilize its debt-to-GDP ratio over decades but risks near-term growth from social unrest. Politically, it tests Macron's ability to govern without a parliamentary majority, potentially weakening his centrist coalition ahead of 2027 elections.