French Polynesia pension system risks going bankrupt- president

3:57 pm on 5 March 2018

The French Polynesian president Edouard Fritch has again warned the pension system is at risk of going bankrupt.

The President of French Polynesia Edouard Fritch speaks to journalists after a meeting with French Prime Minister at the Hotel Matignon in Paris on June 22, 2017.

The President of French Polynesia Edouard Fritch speaks to journalists after a meeting with French Prime Minister at the Hotel Matignon in Paris on June 22, 2017. / AFP PHOTO / JACQUES DEMARTHON Photo: AFP or licensors

Mr Fritch has published an open letter which said the reform he wants passed is vital for the system's viability.

His plan to raise the retirement age from 60 to 62 is being resisted by various groups and unions who have called for another general strike on Tuesday to force the government to ditch its plan.

Mr Fritch has accused opponents of not telling the truth and of trying to manipulate public opinion.

He said there are just under two contributors now for every pensioner while in the 1990s there were more than five.

Mr Fritch said since 2009, there has been an annual shortfall of $US30 million.

He said without reform, there will be no pension for anyone from next year.

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