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Retiree Representatives Demand 2.7% Pension Increase
Politics ♦
Published: August 17, 2011; 15:21 ♦ (Vindobona)
According to legal regulations, Austrian pension payments have to be adjusted for the previous year’s inflation. Next year the cost would be approximately € 1bn.
Retiree Representatives Demand 2.7% Pension Increase / Picture: © Vindobona.org
Austrian pension payments should increase by 2.7% next year. This figure corresponds to the average inflation rate in the period from August 2010 to July 2011. The resulting cost would amount to almost € 1bn. According to legal regulations, pension payments have to be adjusted based on the previous year’s inflation rate.
However, politicians have not followed this rule in…
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