A long-term pension plan in the red

INFO LE FIGARO – Despite the excess mortality linked to the pandemic, pension spending continued to increase in 2020.

While the President of the Republic is trying to revive the subject of pension reform, the situation of the pension system seems to be slightly better than announced last November but the plan remains largely in deficit, indicates the Pension Orientation Council ( COR) in its annual report, which is due on Thursday and of which Le Figaro got a copy.

The balance for the year 2020 and even more that for the year 2021 are improved by the decrease in expenditure linked to excess mortality due to the health crisis», Indicates the COR. The balance announced last November has thus been revised upwards by 0.3 point in 2020 (the contraction in activity having been less severe than expected) and by 0.1 point in 2021 (taking into account excess mortality at the end of 2020 and in 2021). However, the system remains in deficit. Despite the excess mortality linked to the pandemic, pension expenditure continued to increase in 2020, by around 1% in addition to inflation.

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