12 Apr 2018

New Caledonia unions against retirement age rise

3:38 pm on 12 April 2018

Two unions in New Caledonia have come out against suggestions to raise the retirement age to 62.

The territory's social security organisation CAFAT has been discussing ways to shore up the pension fund's viability as it is being eroded by demographic change.

According to the Les Nouvelles Caledoniennes some members of the USTKE and the CSTS-FO unions have gathered outside the Noumea venue of the latest talks.

A full pension is available for those aged 60 while an early retirement is possible at 57 and a half if the individual has contributed to the retirment fund for 35 years.

In French Polynesia, there is a similar debate to raise the retirement age to 62 amid claims that failing to do so will bankrupt the pension fund within two years.