Vers un nouveau recul de l’âge de la retraite. La réforme Borne 2023

A new reform of the pension system parameters was adopted under the Borne government in April 2023. It provides for raising the retirement age based on an incentive to accelerate the 2014 Touraine reform, which already provided for increasing the contribution period (43 years of contributions from the generation born in 1965 instead of those born in 1973) and on a measure to lift the age of entitlement (64 years instead of the current 62 years). While the 2023 Borne reform carries on from the Woerth reform in 2010 (which moved from age 60 to 62), it includes a stronger social component: the age for full entitlement stays at 67; a parental premium has been added; the ?long careers? provisions remain; the minimum pension has received a significant lift; and the rate of non-use of the minimum old-age pension should fall as a result of a significant increase in the threshold for assets before inheritance tax. In this article, we look back at the various financial, economic and social trade-offs that may have led to these choices, and attempt to answer four questions: 1) Was the reform urgent? 2) Is age the only acceptable parameter to be adjusted? 3) What are the main points to watch out for? 4) What should be done with the surpluses of schemes that were already in financial equilibrium before the reform?