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Demonstration in Paris during the 36th consecutive day of strike against the government's pension reform plan, January 9, 2020. REUTERS / Charles Platiau

While thousands of French people marched Thursday January 9 against the pension reform, the collaborators of Laurent Pietraszewski, the secretary of state for pensions, decided to reveal to a handful of journalists the text of his draft bill on the future pension system.

The text that has already been sent to the Council of State will be presented to the Council of Ministers on January 24, the executive wants to act quickly to get out of this endless social conflict quickly, but nothing is less certain.

The text of ten pages takes up the main lines presented on December 11 by Prime Minister Édouard Philippe to the Economic, Social and Environmental Council. After 36 days of mobilization and numerous negotiation sessions between the government and the social partners, everyone remained on their positions.

► Read also: Pensions: the reform discussed at the Ministry of Labor

The establishment of the pivotal age is black on white

According to the bill, there will be a new entity to pilot the future pension system. Governance will be shared between the government, Parliament and the social partners. The CNRU, the National Universal Pension Fund, made up of equal numbers of employee and employer representatives, will set the parameters for pensions and will ensure compliance with budgetary rules.

The text confirms the establishment of the universal system. It will concern people born from 1975. From 2025, their retirement will be calculated according to the points system and their rights acquired before 2025 will be calculated according to the current system according to the annuities acquired. As the candidate Macron was committed to it, the legal retirement age will not change, it will remain fixed at 62 years, but it will be necessary to work until the pivotal age to benefit from a retirement at full rate . It appears black on white in the government's draft which therefore confirms the pivotal age or equilibrium age, the limit before which one retires with a discount. This parametric measure, which in fact pushes the legal retirement age currently set at 62, should make it possible to reduce by 2025 the deficit of 8 to 17 billion euros according to the COR, the Pensions Guidance Council .

The text provides that this pivotal age is accompanied by a bonus-malus: 5% less on the amount of pension if it is triggered before the pivotal age, 5% more if retirement is postponed to -of the. The pivotal age will come into force in 2022 for the 1960 generation who will have to work a few more months. The increase in the retirement age will be gradual. It will reach 64 years for the 1965 generation if it wants to escape the discount in 2027. Those whose careers are incomplete will be able to benefit from the full rate at 64 years, because the project provides that the current discount applied up to 67 years will be eliminated. A measure that will favor women, 20% of them must currently work until age 67 to obtain a full pension. For future generations, the equilibrium age will be revised according to life expectancy. Finally, concerning long careers, people who have validated 5 quarters before the age of 20, can leave at 62. Disabled or disabled people can also leave earlier.

A parliamentary debate from February 17

The inclusion in the pivotal age bill risks reinforcing the challenge. Laurent Berger of the CFDT made it a casus belli . He kept hammering that he is the red line not to cross. Even if the executive has made adjustments such as giving unions the opportunity to determine the pivotal age and amounts of the bonus penalties, or even to bring in alternatives acceptable to the government and the social partners, before September 2021, it is unlikely to bend Laurent Berger. The executive keeps repeating that its door remains open. For his part, Edouard Philippe affirms that " the text is not set in stone " and may be modified by amendments during the parliamentary debate from February 17.

The Government recalls that it has already made concessions. Upon the arrival of the first child, and at each birth, a 5% point increase will be granted to parents with a 2% supplement for the third child. These bonuses will replace the granting of free quarters and the increase granted to large families. For parents on parental leave or at home, points will compensate for career breaks or declines in activity during the child's first years.