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It also introduced new incentives, financed in part by pensioners themselves, for today's workers to save for their own future pensions.
Borrowing against future pensions has a number of drawbacks.
"In one stroke, we are putting the system on a viable path and safeguarding future pensions".
Leisure time is valuable, but it will not pay for future pensions.
Europe's ageing population must fund future pensions somehow, notes Mrs Bowles, France's bête noire.
Promises to pay future pensions are a little easier to break than defaulting on government bonds.
Most of the fund is earmarked to pay the future pensions of Norway's 4.6 million people.
People all over the world are deeply concerned about their jobs, mortgage repayments and future pensions.
Others question his calculation of the present value of future pensions.
For decades, accountants have categorised employees as a liability due to their salaries and future pensions.
"Savers in money-purchase schemes [have seen] their future pensions shrink by the week.
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CEO of Professional Science Editing for Scientists @ prosciediting.com