Word: pension
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...occupation, and 1961, when the hated Wall was erected, approximately 2,700,000 East Germans fled to the West, most of them young, talented and educated. Partly because of that drain, East Germany is still plagued by a shortage of labor. Some 35% of the work force is pension age; of the country's women between 16 and 60, 84% work outside the home-one of the highest percentages of any country in the world. Perhaps not coincidentally, the population growth is, next to Luxembourg's, the lowest in Europe...
DIFFERENCES over the relative importance of the two major issues polarized the younger assembly line workers and their older colleagues. The senior employees wanted "30 and out," eligibility for full pension benefits after 30 years of service, regardless of age, and an increase over the current size of pension benefits. They got both...
Under the old contract a worker could retire after 30 year of service with full pension benefits only if he had reached the age of 56. Full pension was $500 a month. But the employee suffered a reduction in benefits once he became eligible for and began receiving social security checks...
...there is also a problem between the young and the middle-aged. There are no older people on the line, because even before the new pact, assembly line workers were able to retire at age 56 with full pension benefits...
...shares of a $50 stock, for example, will go up from $65 to $71.50. After the 1975 cutoff date, however, small-and medium-size investors will have some of the shopping clout now available only to those who deal in orders of $300,000 or more−mostly banks, pension funds and other institutional investors. These large-scale buyers and sellers can bargain for commissions that omit charges for services like providing research and holding stocks in custody that many investors may not want or need. When smaller investors are given the same privilege, broker commissions are expected...