In its June 2026 report, the COR lowered its central fertility assumption from 1.8 to 1.45 children per woman, aligning with recent Insee data. This adjustment alone is projected to double the retirement system’s deficit to 2.4% of GDP by 2070, marking the most substantial revision since the COR’s inception in 2000. The fertility rate now aligns France with lower rates seen in Italy, Spain, and Germany, with Insee forecasting a population decline of over 3 million by 2070. The active-to-retired ratio is expected to fall to 1.62, exacerbating financial pressures on the system. Current pension levels, which constitute 64.5% of active income, are projected to decline significantly. Meanwhile, the 2026 Social Security financing law has suspended retirement reforms, maintaining the legal retirement age at 62 years and 9 months, potentially increasing future deficits.