THE PURPOSE OF THIS ARTICLE IS TO EXAMINE THE INCOME redistributive effects of the French system of social security in the light of the change of government that took place in 1981. Now, four years since the Socialists took over, it is time to assess their performance in an area in which many changes have been brought about in recent years as a result of the slow-down in economic growth. In this paper, social security includes the four following ‘risks’: health and sickness insurance, family policy, pensions and unemployment compensation. By income redistribution is meant ‘vertical’ redistribution from rich to poor or vice versa.