French Lower House Votes to Suspend Macron's Pension Reforms

Macron's Pension Reform Temporarily Suspended. President Macron's pension reform plan aims to raise the retirement age from the current 62 to 64 by 2030, and increase the contribution period for full pension benefits from 42 years to 43 years by 2027. This decision will postpone the retirement age extension pension reform, which went into effect in September 2023, until January 2028.

Parliamentary Roadblock and Political Landscape. The French government submitted a motion to temporarily suspend pension reforms to the National Assembly, and secured support from the moderate left-wing, including the Socialist Party and the Green Party, as well as the far-right National Rally (RN) in the vote held in the afternoon. It is reported that members of the ruling Renaissance party abstained, expressing their opposition to the government's pension reform plan.

Government Response and Social Reaction. French Prime Minister Sébastien Lecornu stated that he would work to reach a social consensus. The French government has not yet issued an official statement on this decision and is expected to seek ways to respond to future decisions by the National Assembly. Reactions from various sectors of French society to the temporary suspension of pension reforms are mixed. The labor community reportedly welcomes the decision, while the business community expresses concern. Future Outlook.

The French government needs to expand social discussion on pension system reform and gather opinions from various stakeholders. This decision could be a turning point, returning the discussion on pension system reform in France to square one, and attention is focused on its impact on French society in the future.