France considers pension freeze for high-income retirees in 2027

The French government is considering a freeze on pensions for the wealthiest retirees as part of negotiations for the 2027 budget. The proposed measure involves de-indexing the highest pensions, meaning they would not be adjusted for inflation.

While the nominal amount paid would remain the same, the lack of inflation adjustment—projected to be around 2%—would result in a loss of purchasing power. Minister of Economy Roland Lescure has suggested targeting retirees with gross monthly pensions exceeding 3,000 euros.

Mathieu Plane, deputy director of analysis and forecasting at the OFCE, estimates that retirees receiving between 3,000 and 4,000 euros per month could see an annual loss of purchasing power between 400 and 500 euros. For those receiving 5,000 euros per month, the loss could reach approximately 1,200 euros per year. This calculation includes both basic and supplementary pensions.