France unveils major changes to pension fund system

French economy minister Emmanuel Macron (pictured) has disclosed a few details of the future French law about new economic opportunities (Noé) in a recent speech to a mixed audience of French businessmen, entrepreneurs, scientists, lawyers and students.

Macron said he was looking at an adaptation of France’s tax framework aiming to stimulate the shift of French savers’ capital from bond products to equity funds with the objective of serving the financing of real economy. According to the minister, the financing of real economy by the banking industry in France is “no longer adapted” even though “it had worked very well until now”.

Macron added he was working on creating a form of pension fund system à la française.

The law Noé will be unveiled on 15 December 2015.

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