France continues to be hit by nationwide strike

When students protest revolution happens, and France is known for its famous/infamous protests round the year. This time it's a nationwide strike against the planned pension reform by Macron's Government.

President Emmanuel Macron wants to introduce a universal point-based pension system, thereby replacing the existing 42 different pension schemes across private and public sectors with amendments in retirement age and benefits received. The worker's fears that this would compel them to work more years with less pay.

The unified system would reward employees for work done each day, awarding points that would add to the employee's pension benefit. However, it's not sure when the increase in retirement age will implement. Interestingly France is the lowest among the OECD group of wealthy nations for its current retirement age of 62.

Various public polls suggest that 75% of people feel pension reforms are necessary though they doubt on its successful delivery.

5th December 2019, the country saw a nationwide shutdown with massive disruption in the transportation system. Workers and professionals from varying fields joined the protest, but farmers, with the lowest pension in the country, choose to remain out of it. The strike is set to continue till Monday, 9th December as of now. The protestors are willing to take it forward till Christmas or beyond.

Let's wait and see what lies ahead for France.

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