Word: pension
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...Netherlands, which takes its welfare-state benefits seriously, a conscientious civil servant in the village of Diepenveen (pop. 4,018) decided to go out and inform a local farm hand named Hendrik Bally in person that the government, now that he had turned 65, would henceforth pay him a pension of 81 guilders ($21.31) a month...
...civil servant found a man dressed in unspeakable rags, and so thin that his ribs seemed about to burst out of his skin. His boss, Farmer Abraham Kolkman, 72, curtly explained that Bally was nearly deaf and blind, volunteered to sign the pension papers himself. Then suddenly Bally spoke up to contradict his master for the first time in 50 long years. "I can sign my name," he said. "It's my money." And that very night he ran away...
...office, which began in 1946, has been one of almost unprecedented University growth. It is generally felt that in this period he did much to order and centralize the activities which might otherwise have expanded haphazardly. He was also an important figure in the revamping of the University pension system, a process which has been going on since...
Substantial insurance, pension and other benefits became effective immediately. There is no immediate wage boost. But an increase ranging from 7 to 13 cents an hour becomes due on Dec. 1, 1960 and a similar pay raise...
...PENSION-PLAN COSTS will rise sharply in 1960. Prime reason is the 20% rise in Social Security taxes, a boost that will be shared by both employers and employees. Higher costs for increased benefits under private pension programs will be carried mostly by management...