France has a vast system of social welfare policies, when compared with several other "rich" nations around the world. This comes at a cost, however, something that is specifically evident when it comes to their pension policy. The retirement age in France is currently 62, which, if allowed to continue, would result in EUR 14 billion in costs to the state annually, from around 2030 onwards. Generous policies have also resulted in early retirements, and various other reductions in productivity overall, which has issues for the populace at large - especially younger generations, who would have to deal with the bill that the state will keep accumulating.
Emmanuel Macron suggested raising the retirement age to 64. This move was unpopular with the current working population, and also prompted political manoeuvring by his main rivals, Marine Le Penn and Jean Luc Melanchon, who, despite being from opposite ends of the political spectrum, opposed this move. Determined to pass the policy due to its financial necessity, despite its deep unpopularity amongst the electorate, and the strong unpopularity it faced from the opposition parties (Macron doesn't have majority in parliament despite being the president and having his own cabinet), Macron ultimately decided to use a provision called Article 49.3 in the French Constitution, to pass the policy, with the trade off of it triggering a vote of no confidence (a much lower threshold is required when a President exercises 49.3 in France).
*This debate is set prior to Macron's decision to exercise Article 49.3.