Wall Street Journal (August 29)
2013/ 08/ 29 by jd in Global News
“In 1950 France had five people of working age per retiree. Today it has 1.4, and the ratio is expected to fall to 1.2 by 2050.” France’s newly unveiled pension reform will not “defuse” the pension bomb. “Paying for a growing number of retirees with a pay-as-you-go system that invests little for the future is a losing game. It will ultimately require much smaller pensions or much higher taxes, a fact that French businesses understand well even if the political class won’t admit it.”
Tags: Business, Defuse, France, Pay-as-you-go, Pensions, Politics, Reform, Retirees, Taxes, Workers
