Retirement Conclave: Three Months of High-Stakes Negotiations

Starting this Thursday and running until the end of May, unions and employers will meet weekly to revisit the explosive pension issue. At the government’s request, this “conclave” aims to reconsider the 2023 reform, which raised the retirement age to 64. Yet, deep divisions persist, and the discussions promise to be tense.

Diametrically Opposed Visions

On the employers’ side, the priority is to ensure the system’s financial sustainability. The Medef refuses any rollback on the retirement age, even considering pushing it further. The CPME is more flexible but links any negotiation on the retirement age to introducing a partial capitalization system or indexing the age to life expectancy.

Unions, on the other hand, prioritize social justice. The CGT and Unsa advocate for a return to 62, even if it means raising contributions or taxing businesses more heavily. The CFDT emphasizes recognizing arduous jobs and improving senior employment, while the CFE-CGC insists that restoring wage equality is key to balancing the system.

A Government Watching Closely

Although officially stepping back, the government is closely monitoring the debates. The Economy Minister warns of the high cost of repealing the reform, while the Labor Minister argues that reversing the retirement age would require compensatory measures.

The Shadow of the Deficit

The Court of Auditors’ report has further darkened the mood: a €6 billion deficit in 2025, €15 billion in 2035, and nearly €30 billion in 2045. In the absence of a broad agreement, the government is already planning to submit a bill to Parliament based on partial progress.

These three months of conclave will be decisive for the future of pensions in France. Between the search for financial balance and demands for solidarity, unions and employers will have to find common ground—or declare a deadlock.