GOVERNMENT APPROVES PENSION REFORM.

Publication: Monitor Volume: 3 Issue: 237

The Russian government met yesterday and approved a long awaited pension reform program that is intended to come into force in 2000. The program calls for a gradual transfer from the existing system, whereby all pensioners receive broadly similar sums of money, to a differentiated, three-level system. The new scheme is intended to reflect the individual’s length of service and the size of the contributions made during the course of his or her working life. (Radio Russia, December 18)

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