Listen: French PM freezes Macron’s pension law saving the government for now

French prime minister Sébastien Lecornu has announced the suspension of Emmanuel Macron’s 2023 pension reform, which had raised the retirement age from 62 to 64. Now, two years after it was passed, its implementation will be paused until after the 2027 presidential election. But how is this suspension saving the government for now?

Production: By Europod, in co-production with Sphera Network.

EUobserver is proud to have an editorial partnership with Europod to co-publish the podcast series “Long Story Short” hosted by Evi Kiorri. The podcast is available on all major platforms.

You can find the transcript here if you prefer reading:

On Tuesday, French Prime Minister Sébastien Lecornu announced the suspension of Emmanuel Macron’s 2023 pension reform, which had raised the retirement age from 62 to 64. The reform, pushed through parliament without a vote, triggered months of nationwide protests and strikes, becoming one of the most divisive policies of Macron’s presidency. Now, two years after it was passed, its implementation will be paused until after the 2027 presidential election. But how is this suspension saving the government for now?

In a speech before the National Assembly, Lecornu promised that no increase in the retirement age will take place until January 2028, effectively putting the 2023 law on hold until after the next presidential election.

He also pledged something quite extraordinary for French politics: no use of Article 49.3 which is the constitutional tool that allows the government to force laws through without a vote. Instead, he said, the government will propose, parliament will debate, and deputies will vote. A small democratic revolution, perhaps or at least, the promise of one.

This change of heart comes before the no-confidence vote for this new government, which was bound to lose. The Socialist Party held the balance of power. By agreeing to suspend the reform and send a friendly text message to Socialist leader Olivier Faure saying, “I’m taking my risk”, Lecornu secured just enough goodwill to survive.

In other words, it was less of a grand ideological shift, and more of a political life-saving manoeuvre.
The suspension will cost France around €400m in 2026 and €1.8bn the following year, and Lecornu insists that this will need to be offset by “savings”, a word French citizens have learned to approach with suspicion.

Now, for the socialists, this is being hailed as the first major victory for the French social movement since 2006, when mass protests forced the government to withdraw the youth employment contract law.

For Macron’s camp, however, it’s a humbling moment. The pension reform was meant to be the centrepiece of his economic legacy, proof that France could be fiscally responsible and “modernise” its welfare state. Instead, it’s now frozen, politically radioactive, and costing billions.

It also speaks volumes about the fragility of French politics today. The parliament is split into three near-equal blocs, Macron’s centrists, the left, and the far right, and no one has a majority. To survive, the government must now rely on delicate alliances and last-minute deals with opponents. It’s coalition politics, French-style and it’s not going smoothly.

Meanwhile, unions like the CFDT have welcomed the decision as proof that street protests still matter. And perhaps they do. The pressure from months of demonstrations, combined with Socialist leverage in parliament, managed to overturn what was once called “non-negotiable”.

So, what happens now?

The pension reform is suspended, not scrapped. Lecornu insists that the law could return after the 2027 presidential election. In the meantime, his government faces an even tougher task: pushing through a tight austerity budget. France’s deficit is nearly double the EU target, and its debt-to-GDP ratio is close to 120 percent. Lecornu says France must “remain below five percent”, but with spending promises like this, good luck to him.

The Socialists have promised not to topple him for now. But they’ve also made it clear: the truce lasts only as long as Lecornu keeps his word.As one MP warned, “The non-censorship applies for Thursday, but not after.”

So, the pension reform may be on pause, but France’s political tension certainly isn’t.
For now, the Prime Minister has saved his job, but whether he’s saved his government, or just postponed its collapse, it’s something we’ll see.