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Moreover, the level of pensions would no longer be indexed but would depend on the yield of investments.
The disadvantages of either of these approaches are that there would need to be an immediate increase in contributions to provide the planned level of pensions.
By 2017 we will have to spend £20bn more on support for the elderly to retain the current level of pensions, healthcare and residential homes.
In future, either taxes will have to go up to provide the same real level of pensions, or else pensions will have to be cut.
He has governed the islands since 1978.Alpine alienationIn Switzerland's election, the right-wing People's Party won the highest share of the vote, making it the biggest party in a four-way coalition.See article: The right winsGermany's government proposed freezing the level of pensions in 2004.
Thus, the level of pensions raises even more than the discounted pension payments (Fig. 3 d).
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It discourages people from saving for retirement as the level of pension credit a pensioner receives takes into account what other income individuals have, including savings income.
These offered a specific level of pension and were originally non-contributory.
The low level of pension provision contrasts with that of employees – more than half of whom are making pension contributions, either directly or via their employer.
Therefore, a woman needed a larger pension pot than an equivalent man in order to fund the same level of pension.
States invest this money and guarantee a level of pension calculated from the teacher's retirement age, years of service and final salary.
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