Edouard Philippe proposes pension reform to age 65 and 45 years
- Former French Prime Minister and Horizons presidential candidate Édouard Philippe released a video proposal outlining a pension reform plan to gradually push the legal retirement age to 65...
- Philippe detailed a two-stage calendar that builds upon the existing French legislative framework.
- Alongside the primary state-managed system, the plan introduces a mandatory capitalization tier for all employees.
Former French Prime Minister and Horizons presidential candidate Édouard Philippe released a video proposal outlining a pension reform plan to gradually push the legal retirement age to 65 and the contribution period to 45 years. Philippe defended the timeline as a necessary measure to take decisions before a financial crisis hits the system, marking a significantly harsher adjustment path than competing political platforms.
Two-Stage Implementation Schedule for 65-Year Retirement Age
Philippe detailed a two-stage calendar that builds upon the existing French legislative framework. According to his proposal, the initial phase will pick up the reform of 2023 by setting the legal departure age at 64 instead of 62 years and nine months, while requiring a contribution period of 43 years instead of 42.5 years. The second phase accelerates the adjustment. Philippe aims to transition the legal exit age to 65 and the contribution requirement to 45 annuities within a span of less than 10 years. Once financial equilibrium returns, the former prime minister pledged to hand management entirely over to social partners under a golden rule of balance to permanently stop recurring political debates.
Mandatory Capitalization Pillar and Anticipated Exemptions
Alongside the primary state-managed system, the plan introduces a mandatory capitalization tier for all employees. Philippe noted in his video address that anyone claiming a capitalization-only strategy can save the system is telling stories, pointing to the long ramp-up period required for such assets. To jump-start this tier, the state would make an initial deposit into a retirement savings plan for every young person entering their first job.
Despite the strict trajectory, Philippe stated that one in three French workers will still qualify for early exit between the ages of 60 and 64. The baseline departure age would remain at 55 for individuals with disabilities, 60 for permanent incapacity, and 62 for invalidity. The candidate rejected both general pension cuts and payroll tax increases, acknowledging that the platform carries political costs. Je sais très bien que ça n’est pas comme ça qu’on gagne des points dans les sondages
, Philippe acknowledged in the video presentation.