An abysmal hole, which adds to the already blazing situation of the French economy. The Pensions Guidance Council has just announced that the deficit of the French pension system should approach 30 billion euros this year.
Or to be more predicted, the balance of all pension plans would stand at the end of the year at - € 29.4 billion according to his projections, or € 25.2 billion more than the latest estimate published in the fall of 2019.
The latest file from the COR General Secretariat on the impact of the #COVID__19 health and economic crisis on the #retirement system is online
-> https://t.co/DwUBvfA7dL pic.twitter.com/aq4IkBpVoF
The coronavirus crisis is causing this inflation of the pension hole. Indeed, they recorded a fall in their revenues, "whole swathes of the French economy" having been "shut down" in recent weeks. In particular through deferrals and exemptions from social security contributions decided by the government so as not to see the decline of entire sectors.
The latter should thus cap at 310.8 billion euros, 25.7 billion, therefore below the projections of last November.
Lower spending
On the other hand, spending should be slightly lower than expected: it would reach 340.2 billion euros, 500 million euros less than the last estimate.
This difference is linked to the high mortality observed in recent months among the elderly. Data which could be revised specifies the Retirement Orientation Council in view of "very high uncertainties on the still provisional statistical balance of excess mortality".
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