French government stands by controversial pension reform plans

France's government is sticking to its controversial pension reform plans to raise the general retirement age from 62 to 64, despite mass protests in the past week.

Not raising the retirement age would mean saying goodbye to a financially balanced pension system, which would be irresponsible towards future generations, Labour Minister Olivier Dussopt said in Paris on Monday.

However, the rest of the reforms could still be changed in the course of the parliamentary consultation in February, the minister said. The text of the law was presented at a Cabinet meeting on Monday. It also provides for an increase in the minimum pension to €1,200 ($1,302) per month.

The reform should also be used to eliminate disadvantages in the existing pension system, Minister for the Civil Service Stanislas Guerini said after the Cabinet meeting.

Of the €18 billion saved by the reform until 2030, €6 billion should be used to correct injustices, he said.

The government also wants to ensure that older workers are employed to a greater extent than before. From the end of the year, companies will be obliged to report the number of their older workers.

Even under the current French pension rules, many start retirement later than the official retirement age of 62 because they have not paid into the scheme long enough to earn a full pension.

On Thursday, 1.1 million people protested against the reform across France. On Saturday, thousands took to the streets again in Paris.