The savings are substantial for the French pension system. It posted a surplus of 900 million euros in 2021, for the first time since the 2008 crisis, and should still show a surplus of 3.2 billion this year, according to the annual report of the Pensions Orientation Council ( COR) of which AFP obtained a copy on Monday.
Back in the green thanks to “the strong recovery in growth” last year, the overall balance of French pension schemes should however “degrade significantly” from 2023, and its return to balance is still projected “towards mid-2030s” in the best of scenarios.