New deficit assessment brings French pension reform back on negotiating table

France's independent public audit office shared its assessment of the pension system deficit with Prime Minister François Bayrou this Thursday. This is the starting point of a renegotiation of the 2023 pension reform which raised the legal retirement age from 62 to 64. Both worker and employer representatives will start discussions next week. One option on the table to reduce that deficit is to complement the existing worker and employer contributions with private sector pension funds.