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  • 1440 Daily Digest

French Pension Plan

French President Emmanuel Macron's pension plan heads for final parliamentary votes today after a joint parliamentary committee advanced the final text of the bill. More than 1 million French workers have so far marched nationwide to protest against the proposal to raise the retirement age by two years to 64 by 2030.

A conservative Senate majority is expected to approve the bill today, while observers say approval in the National Assembly may be more complicated. Leftist and far-right lawmakers strongly oppose the bill, while conservative lawmakers are divided. President Macron contends the plan would preserve the pension system (see background) without raising taxes or increasing the national debt. Current workers pay for retirees' government pensions, but analysts say the ratio of workers to retirees has decreased as people live longer and the population grows older.

The strike, comprising train drivers, teachers, energy sector workers, garbage collectors, and more, is expected to continue today as thousands of tons of garbage has piled up on the sidewalks of Paris and other French cities.

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