French economy since 2008 and pension system in France

Abstract

French population has been growing very fast since 1945, due to immigration and to natural growth. According to the demographic prospects, population will be constantly growing during the next fifty years and the part of elderly people is also going to be growing. The state has obviously to take this tendency in consideration for reforming the pension system. Economic situation has worsened in France since the start of the crisis in 2008, like in the most European countries. In the last six years, the situation on the labour market and public finances have deteriorated. Young and unskilled workers are the most vulnerable people on the labour market in France now. The pension system as it exists today in French was built progressively since World War II. The organisation of the pension system is relatively complex and is divided between basic and supplemental schemes. There were many reforms since 1945, which didn't solve the main problem of the system which is the deficit, and for this reason an increase of the retirement age seems the only possible solution.