Hollande Revamps French Pensions With Longer Working Lives
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President Francois Hollande will lengthen the number of years of required work to achieve a French state pension as part of an overhaul of the retirement system intended to trim the deficit.
French workers will have to contribute to the system for 43 years in 2035, up from 41 years currently, Prime Minister Jean-Marc Ayrault said yesterday. Contributions by both employees and employers will rise starting next year, though the government will reduce other payroll charges in an effort to contain labor costs.