FRANCE - The CGT (Confederation Generale de Travail), France's most militant trade union, has blamed France's association of directors, the Medef, of time-wasting during the first round of negotiations over pension reform.
An internal document of the CGT leadership seen by IPN accuses Medef of “playing the waiting game” during the first talks between employers associations, which also include the UPA and the CGPME, and the CGT, CFDT, FO, CGC and CFTC unions over the impact of France’s pension reform on supplementary pensions.
Commenting on the impact of the reforms on early retirement - a focal point of the talks - the document reads: “[The Medef] is using the delay in the publication of the law not to engage immediately in the negotiations. They are refusing to proceed with a specific discussion which would allow it to identify and anticipate ways to finance early departure.”
The CGT added that the Medef would look to ways of recuperating the cost of early retirement from all employees.
The discussions centre on how the reform will affect the AGIRC and ARRCO, two supplementary retirement associations for executives and low-earners respectively.
The new pension reform will mean an increase in the contribution period. The measures mean that by 2008 public sector workers must work for 40 years to get full pension; by 2012 all workers must work for 41 years to get the same and by 2020 this will be extended to 42 years.
In an earlier interview with the CGT, the union outlined its intentions to IPN.
Our first demand is to keep the yield of the additional pensions and the right to retire at 60 with a good pension, a CGT source said.
We also want to make it possible to implement the good sides of the reform, such as the possibility to retire before 60 for employees who have worked since 14 or 15 years old and a minimum of 85% of the guaranteed minimum wage.”
For those who have been on the guaranteed minimum wage or Smic for all of their working lives, the CGT said that it wants to secure a pension equalling 100% of the Smic.
The next two meetings with the emp[oyers associations are penned for October 7 and 27.
Aon, Mercer and Willis Towers Watson have renewed criticism of the Competition and Markets Authority (CMA) over its analysis of the benefits of tendering for fiduciary management contracts.
Many single-employer trust-based DC schemes will move to a master trust in coming years. Stephen Richards looks at the pitfalls they need to avoid
Robin Ellison says it is not unreasonable for schemes and their trustees and sponsors also to expect an improvement in the tone of regulation