The Senate, with a majority to the right, voted this Sunday in favor of launching a study on the incorporation of a dose of collective capitalization in the pay-as-you-go system, on the occasion of the review of the pension reform
The capitalization system provides that employees and employers invest their contributions in investment funds, shares, bonds, etc. Upon retirement, the employee receives a pension linked to the past performance of these investments.
The amendment, presented by Senator Les Républicains Jean-François Husson, was approved with 163 votes in favor and 126 against.
The senators demand that the report be presented by the government to Parliament before October.
“The demographic movement is incessant, we will have fewer contributors and more beneficiaries, we have this duty to see how the distribution system continues,” explained Jean-François Husson in the chamber.
“It is a matter of social justice, it is above all the remuneration of the most modest who are going to benefit,” he said.
left opposition
The left objected. “You no longer trust this pay-as-you-go system so much that you want to see capitalization systems come,” criticized the socialist Monique Lubin.
“It’s about delivering hundreds of billions to pension funds, to the market,” the environmentalist Raymonde Poncet-Monge was outraged, considering that the pay-as-you-go system was the most supportive and efficient.
The president of the LR group, Bruno Retailleau, explained: “We could have a three-stage rocket: the intergenerational base (of the pay-as-you-go system), the second stage is supplementary pensions and the last stage is by capitalization.”
Communists and environmentalists have scoffed at this metaphor, recalling that in a rocket the first stage “is the first to be abandoned” in favor of the ascent of the last.
An unfavorable opinion of the General Reporter
Elisabeth Doineau (UDI), general rapporteur, expressed an unfavorable opinion on the report, but considered the question “interesting”, because “the younger generations do not believe in the financing of our system”.
The Labor Minister, Olivier Dussopt, was also unfavorable: “The government chose not to open the debate on capitalization.” “Nobody can reasonably say that there can’t be a debate about this funded system,” he added, however.
The different speakers were happy that the debate was lively, after a section on Saturday on special diets marked by the omnipresence of the left and the silence of the right.
“Some are cured of their verbal diarrhea, others of their silent occlusion”, jokes René-Paul Savary, LR rapporteur for the branch of the third age.
Source: BFM TV
