France: Retirement system for truckers must be reformed in 2017
17.01.2017 France: Retirement system for truckers must be reformed in 2017L'Yonne Républicaine, 17 Jan 2017, online:-
The retirement system for professional drivers and truckers will be reformed. Since its launch in 1997, 35,000 people have benefited from a system which allows drivers with a set work experience to retire five years early and receive 75% of their pay up until they reach retirement age. This system was financed for the first 30 months by company contributions and then by the French government. A trucker with 26 years of experience, for example, could stop working at 57 and receive 75% of gross salary up until retirement age. Employers in turn were obliged to hire a new permanent contract employee to replace drivers eligible for early retirement. However, this system can be considered a form of early retirement for which companies can be taxed up to 50% of the amount paid to drivers. The total bill for companies could reach EUR 476mn (USD 534.64mn) over three years. The government has therefore requested a new system be devised by the end of 2017, which meets driver expectations and is economically sustainable.
©M-Brain
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