• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

New

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

SuccessLabor

The president of France wants French people to work longer, and they’re not having it

By
Ania Nussbaum
Ania Nussbaum
,
William Horobin
William Horobin
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Ania Nussbaum
Ania Nussbaum
,
William Horobin
William Horobin
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
January 10, 2023, 4:10 PM ET
Emmanuel Macron
Emmanuel Macron President of the Republic of France talks to the media at a press conference. Nicolas Economou—NurPhoto/Getty Images
Add Fortune on Google for similar content.

Emmanuel Macron’s government presented a plan to gradually raise France’s minimum retirement age to 64 by 2030 from 62, sparking anger among labor unions who immediately called for strikes to protest the reform.

Making the French work longer is essential to boost relatively low employment rates among seniors and avoid persistent deficits in a public system funded by worker contributions, the president has argued. Labor organizations say it will unfairly penalize the low-skilled and least wealthy who began working early in life.

“The pension system is not in danger, nothing justifies such a brutal reform,” Laurent Berger, the head of the moderate CFDT union, said alongside leaders of other labor organizations following a meeting in Paris.

Prime Minister Elisabeth Borne told a news conference earlier on Tuesday she was aware the reform raises fears but said that it was “a plan of fairness, a plan that brings social progress.”

The unions called for a first day of strikes and demonstrations on Jan. 19 and said this was the beginning of a “strong mobilization.”

The showdown around what French officials have dubbed “the mother of all reforms” is set to be a defining moment in Macron’s second five-year term as French leader.

If the 45-year-old forges ahead, he’ll likely face the kind of paralyzing upheaval that accompanied — and sometimes defeated — his predecessors’ attempts to alter laws affecting labor and retirement. If he backs down, it would undermine his decade-long drive to drag France through a pro-business transformation.

The government plans to submit the bill to parliament in February and may ultimately need to use a special constitutional measure to bypass a vote if it can’t convince some opposition lawmakers to support it.

Macron already withdrew a different proposal for pension reform in 2020 after months of demonstrations and strikes. At the time, he cited the Covid pandemic as the reason. 

The gamble in 2023 comes at a difficult juncture for the French economy as it wrestles with soaring power prices, and as inflation weighs on households and businesses.

Read more: French Government Expects to Eliminate Pension Deficit by 2030

Public finances are also strained after massive spending during the pandemic and the energy crisis. Without changes to the retirement system, it alone is set to record an annual deficit of as much as 0.8% of annual economic output during the next 10 years, according to France’s Pensions Advisory Council. 

In an effort to build consensus, Borne dropped the proposal Macron initially touted during his election campaign to raise the minimum retirement age to 65. To meet the objective of financial balance, she said the government will instead accelerate the implementation of a previous overhaul that gradually increases the minimum number of years of contributions to 43. The age at which people can retire with a guarantee of a full pension will not be changed from 67. 

The prime minister also said the government would make other changes to ensure around 40% of people can still retire earlier than 64, including those who began working young or suffer from bad health due to their jobs. 

Learn how to navigate and strengthen trust in your business with The Trust Factor, a weekly newsletter examining what leaders need to succeed. Sign up here.
About the Authors
By Ania Nussbaum
See full bioRight Arrow Button Icon
By William Horobin
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Success

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Success

Photo of Tony Xu
SuccessEntrepreneurs
DoorDash CEO Tony Xu once thought his $87 billion company would only make $100 million. He tells founders to be ‘greedy’ and dream bigger
By Emma BurleighAugust 4, 2026
12 hours ago
Patrick Collison
SuccessCareers
Despite dropping out of MIT to build $159 billion fintech Stripe, its CEO has a warning for Gen Z who want to copy him: ‘That was a poor intuition’
By Preston ForeAugust 4, 2026
13 hours ago
PricewaterhouseCoopers (PwC) CEO Paul Griggs
SuccessCareers
PwC U.S. CEO advises young workers to say yes a lot, even if it means working on the weekends—‘That person climbs into the next role’
By Emma BurleighAugust 3, 2026
2 days ago
Photo of Sam Altman
SuccessWealth
Sam Altman reveals the investing advice billionaire Peter Thiel gave him that helped him amass a $3.3 billion net worth without OpenAI equity
By Preston ForeAugust 3, 2026
2 days ago
cs
AIEducation
The computer science major is dying so that the AI literacy minor can be born: ‘we have to democratize it’
By Heather Hollingsworth and The Associated PressAugust 3, 2026
2 days ago
Elon Musk is photographed at Space X in Brownsville, Texas
SuccessSpaceX
Elon Musk wants engineers and trade talent: All you need is 3 bullet points, a résumé, and a desire to create the best data centers ‘off Earth’
By Eleanor PringleAugust 3, 2026
2 days ago

Most Popular

How Zohran Mamdani's pied-à-terre tax exposed an epidemic of 'ghost cars' instead
Personal Finance
How Zohran Mamdani's pied-à-terre tax exposed an epidemic of 'ghost cars' instead
By Catherina GioinoAugust 4, 2026
21 hours ago
Bars, bowling alleys, and movie theaters cost too much to run and visit. Americans have run out of places to hang out and we're paying with our health
North America
Bars, bowling alleys, and movie theaters cost too much to run and visit. Americans have run out of places to hang out and we're paying with our health
By Catherina GioinoAugust 2, 2026
3 days ago
Ray Dalio on the AI bubble nearing 1929, 2000 levels and the lesson people always forget: 'Wealth is not the same as money'
Investing
Ray Dalio on the AI bubble nearing 1929, 2000 levels and the lesson people always forget: 'Wealth is not the same as money'
By Nick LichtenbergAugust 4, 2026
21 hours ago
Forget Gen Z: People in their 70s and 80s are some of the earliest Americans to welcome physical AI into their homes and daily routines
AI
Forget Gen Z: People in their 70s and 80s are some of the earliest Americans to welcome physical AI into their homes and daily routines
By Marco Quiroz-GutierrezAugust 3, 2026
2 days ago
Current price of oil as of August 4, 2026
Personal Finance
Current price of oil as of August 4, 2026
By Joseph HostetlerAugust 4, 2026
19 hours ago
Electric air taxis are finally ready for takeoff
Magazine
Electric air taxis are finally ready for takeoff
By Alexei OreskovicAugust 3, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.