EXCLUSIVE The coronavirus crisis will cost the pension system 5 billion per year

The Pension Orientation Council has recalculated the financial trajectory of the short-term pension system. The financing need would still be 13.3 billion euros in 2024.

The financing need for the pension system would still rise in 2024 to 13.3 billion euros (2019 value).

Five billion a year, every year: here is the bill for the coronavirus crisis for the pension system. In a “progress note to the Prime Minister” dated October 15, which “Les Echos” could read, the Retirement Orientation Council (COR) recalculates the financial trajectory of the pension system over the coming years.

At the request of the government, it also disentangles the structural deficit from the effects of a deteriorated economic situation, which should be absorbed by 2024. An update that the social partners demanded, while the executive must decide whether it is appropriate or not to adjust the accounts with measures of economy by the end of the quinquennium.