French President Francois Hollande intends to cut down former French presidents’ pensions, TASS reported quoting France Info.

According to some data, Hollande intends to implement the initiative that he announced two years ago. The project has been suspended. Now the decision will be prepared by the State Council and Accounts Chamber.

It is reported that the presidential decree will be adopted at the beginning of the next week. It will not have retroactive force and Hollande will become the first who will get under its action.

According to the existing rules, the former president of France receives from the state pension in the amount of € 65,000 per year, a state apartment with a service staff and guards, secretaries and assistants. All this costs €10.3 million a year.