New protests planned against France's pension reform

New protests against the controversial pension reform are planned in France on Saturday after left-wing party La France Insoumise (France Unbowed, LFI) and various youth organizations announced rallies.

Because the current pension system cannot be financed in the long term due to the ageing population, the French government wants to gradually raise the retirement age from 62 to 64.

In addition, the number of years needed to pay into the system in order to receive a full pension is to be increased more quickly, several individual systems with privileges for certain occupational groups are to be abolished, while the minimum monthly pension is to rise to about €1,200 ($1,303).

Currently, the retirement age is 62. However, retirement actually starts later on average as those who have not paid in to the scheme long enough to be entitled to a full pension also work longer.

On Thursday, more than 1.1 million people across the country opposed the government's pension plans in a major strike and mass protests. According to the report, 80,000 protested in Paris alone.