When Cyril joined France’s state rail operator, the SNCF, he looked forward to stable employment until his retirement at the age of 50.
A few years ago the rules changed and he discovered that he would have to work until he is 57 to get a state pension that he reckons will be about €30,000 a year.
OK. His current pay?
The prospect is intolerable to Cyril, 46, who declined to give his last name. He got his first job at the SNCF at the age of 16 and now earns €36,000 a year as a high-speed train driver.
He wants a pension of 80% of pay for 30 years – actuarially at least?
You can see the incentive to change this, no?