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France is burning! Billions of people there are protesting against their government. We consider France to be a developed country. Then why people are angry now? What’s the reason behind these protest? Let’s read and find it out:-
Riots in France
Till now atheist 500 people have been arrested and more than 100 police officers have been seriously injured. People there are angry because Pension Reforms are being brought in France.
What are these Pension Reforms?
Basically, in today’s time people retire at the age of 62, and after that they get pension. But the new law in France says that you have to work until the age of 64, only then you will get pension. This means that people have to work for few extra years. And this rule will be implemented in 2030! That’s sit! That’s the issue.
Cities are burning for this simple thing. People think thus is unfair but government thinks it is necessary! Let’s understand who is right and who is wrong-
Government Point of View
Every year government gives 11,000 Euros to a retired person (11K euros = ₹10L approx). It’s pressure come on the GDP of France. Every year 13% of their GDP goes only to pay pensions. Due to this government have to take loans! If France earns ₹100 then they have a debt of ₹359 on its head. France is in dire need of reducing this debt. If people will work for more foe extra years then they can help in the growth of economy.
Protestors Point of View
Protestors say that the pension system provides a safety net to retirees. For a healthy person working 2 extra years is not a big deal but some people work in a very stressful environment.
Protestors say that working 2 years extra should be voluntary, not mandatory. When old people retire, young people take their place. But if old people have to work for 2 more years then unemployment will increase!
Let’s see what happens in future after these riots in France! Till then stay tuned!
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