What are the options for reducing the growth dependency of the French pension system?

Summary The French pension system has undergone a great deal of reform in recent decades, and these reforms should have extremely significant financial effects. But two questions remain open. The first is the simplification of a system that is not very clear and not harmonized. The second is that past reforms do not deal well with the economic and demographic uncertainty to which the system is exposed. Its sensitivity to the vagaries of economic growth has even been increased by the price indexation rules introduced at the end of the 1980s. This article uses the Pensipp model to explore three possible responses to this last problem: two structural reforms (notional accounts or generalization of the points-based pension) and a parametric scenario that simply rationalizes the indexation rules of the current system.