In 1970, the average Frenchman entering retirement could expect to live ten years. Now he can expect to live for 23.

That pattern is repeated across Europe.

Result? The OECD expects governments’ expenditure on pensions to rise from 8.4% to 11.4% of GDP between 2010 and 2050.

According to a new report from the OECD, increases in the official retirement age are planned or underway in 28 out of its 34 member countries.

Except in France.

On June  6th François Hollande, France’s new president, unveiled plans to reverse a planned rise in the official retirement age to 62.

Bon chance, Monsieur Hollande!

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