Do we really need to work longer? France’s pension reform and the changing labour market
France is getting old. Yet there is a downside to Europe’s record-breaking life expectancy: To pay for its ever-healthier cohort of retirees, the French right says it has no choice but to raise the retirement age from 62 to 64. The left counters that if businesses pay their fair share of taxes, that will be enough to maintain the country’s cherished pay-as-you-go pension system. What exactly does the future hold for workers ahead of what unions claim is their biggest strike yet against the government’s pension reforms?
The Covid-19 pandemic is a shocking reminder of just how much productivity has soared over the years. Whether we are working from home or in the office, the digital age allows us to do more in less time. How does this change our work-life balance, and more importantly, how much do we have to work to actually pay those pensions? Do we really need to work longer hours?