#2010-1330Law No. 2010-1330 on Pension Reform
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The Law No. 2010-1330 of November 9, 2010, focuses on reforming the French pension system, reaffirming the principle of pay-as-you-go retirement schemes as a cornerstone of social solidarity between generations. It aims to ensure equitable pension rights regardless of gender or professional background, improve financial sustainability of pension systems, and address disparities in pension amounts between men and women. The law establishes mechanisms for annual financial assessment and paving the way for eventual systemic reforms to enhance retirement benefits.
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Key Changes
- Introduction of new goals for pension schemes emphasizing equity and sustainability
- Creation of a pilot committee to oversee retirement system compliance
- Increased minimum retirement age to 62 for new retirees after 1956
Obligations
What this law requires
The Pension System Steering Committee must submit an opinion to the Government and Parliament by June 1st each year regarding the financial situation of pension schemes, conditions for returning to balance by 2018, and financial perspectives beyond that date.
When the Steering Committee identifies a serious risk to the financial sustainability of the pension system, it must propose corrective measures to the Government and Parliament.
The Council for Pension Orientation must submit a comprehensive report to the Government and Parliament before March 31, 2018, covering financial situation, employment rates for those over 55, gender pension gaps, disabled employment, and financing parameters review.
Within one year of law promulgation, the Council for Pension Orientation must submit a report on renovation of demographic compensation transfer mechanisms between old-age insurance schemes to ensure strict demographic solidarity.
Pension management organizations and unemployment insurance organizations must communicate necessary information and studies to the Steering Committee required for it to perform its missions.