(d) The inclusion of full pension indexation for UNJSPF, and only partial indexation for local employers

The increase in the level of benefits paid was caused by benefits indexation in 1991 and the introduction of a system of automatic indexation.

Indexation may be carried out every quarter, but only when the average wage has increased by at least 10 per cent in relation to the previous basis of indexation.

(d) The actuarial analysis took into account the indexation provisions of UNJSPF and local plans.

The base amount, that is an amount constituting the basis of recently conducted indexation, is equal to the average wage in the country during the quarter preceding the quarter in which the latest pensions indexation was carried out.

On 1 June 1992 a fixed rate of benefit was introduced (512,000 zlotys) and indexation applied.

Pensions are subject to indexation on the basis of rules applicable to the whole system of pensions.

Since June 1994 the basic amount equals 93 per cent of the average wage in the quarter preceding indexation.

173. The amount of each old age pension is expressed in proportion to a basic amount for purposes of periodic indexation.

The minimum old age pension amounts to 39 per cent of the average wage in the calendar quarter preceding the date of indexation.

The allowance is increased by a percentage of the growth in the average monthly wage between the quarters preceding the date of indexation.

Even with the prevalence of dollar indexation across the region, exchange rate appreciation would still help promote cheaper imports and higher living standards. Moreover, as public confidence in the de linked oil currencies increases over time, dollar indexation of private contracts will diminish, and currency movements will have a greater impact on overall prices.

In socially justified circumstances (for example a higher increase in the cost of living than was estimated), the minimum wage agreement allows for additional indexation.

The Committee further encourages the State party to establish an effective system of indexation and regular adjustment of the minimum wage to the cost of living.

The Act of 17 October 1991 concerning pensions indexation, principles of pensions calculation and amendment of certain Acts (Dziennik Ustaw No. 104, Text 450, with further amendments)

206. Since 1 January 1994 the minimum survivor apos s pension is 39 per cent of the average wage in the calendar quarter preceding the date of indexation.

Once a year (starting in 1996) the family allowance will be subject to indexation on the basis of the increase in the price of consumer goods and services.

The UNJSPF scheme provided for full indexation of benefits (except for a minor deviation in the initial year of retirement), while many of the local schemes did not

The Fund is being used to compensate holders of the bank accounts mentioned above, through indexation to the national currency as at 31 December 1990, for their accrued savings.

198. Since 1 January 1994 the minimum disability pension for disability groups I and II is 39 per cent of the average wage in the calendar quarter preceding the date of indexation.

Application of the principle of quarterly indexation has allowed for constant growth in the level of the minimum wage at a higher rate than that of the average wage in the national economy.

Until 2002 pensions were indexed by the consumer price index on regular basis, however as of 2002 changes in the insurance contribution wages will also be taken into consideration in the indexation of pensions.

53. The method of fixing the minimum wage, together with a mechanism for quarterly indexation, negotiated with the trade unions in 1991, allows for the maintenance of the real value of the minimum wage.

We must accelerate the development and adoption of a civilian labour code and laws on the subsistence level and indexation of people apos s incomes, and improve the practice of delivering targeted social aid.

The granted pension amount is protected against inflation by regular pension indexation (once a year), taking into account the consumer price index changes and as of 2002 also a certain part of the insurance contribution wage index.

Regarding interest on or indexation of arrears, should the General Assembly decide to introduce interest charges on arrears, the rate should be fixed at a low level and should not have retroactive effect, and the annual rate should not exceed 1 per cent.

The Committee notes with concern the low level of the minimum wage, which is inadequate to provide workers with a decent living for themselves and their families, and the lack of a system of indexation and regular adjustment of the minimum wage to the cost of living.

172. People who have reached the age of 75 or have been included in disability group I are entitled to a nursing supplement to the old age pension at the rate of 10 per cent of the average wage in the quarter preceding the date of indexation.

Of course, the other G8 leaders might be less enamored of some of Russia s other approaches to addressing budget problems. Most G8 countries seem incapable of achieving the political consensus required to take necessary steps such as raising the retirement age or significantly cutting the indexation of benefits to inflation.

In accordance with the law in force, the compensation is subject to indexation on a quarterly basis (more precisely, the amount for each per cent of health damage is adjusted in line with inflation). Order of the Council of Ministers of 8 August 1988 (Dziennik Ustaw No. 29, Text 199, with amendments).

Moreover, government can make our social insurance (a government institution that complements private insurance) more incentive compatible and better at managing risks and not just the risks of the extreme losers by, say, launching inequality indexation of the tax system. And governments should improve our information infrastructure, so that financial contracts can better capture the outcomes of economic risks.

28. Pursuant to its general mandate under paragraph 3 of General Assembly resolution 14 A (I), the Committee also discussed the possible indexation of arrears, to take account of the loss of purchasing power of the amounts in question, as well as restricting access for Member States in arrears to recruitment and procurement opportunities offered by the Organization.

In order to prevent pathological inflationary dynamics from becoming embedded even more deeply in the structure of the economy (including through wage indexation), Volcker dramatically changed the policy stance and made inflation public enemy number one. The equivalent of today s policy rate rose to 22 as he launched a bold anti inflationary crusade, accepting significant upfront costs for gains down the road.

The basic legal acts in this field are the Act of 14 December 1982 concerning pension security for workers and their families (Dziennik Ustaw No. 40, Text 267, with further amendments) and the Act of 17 October 1991 concerning pensions indexation, principles of pensions calculation and the amendment of certain Acts (Dziennik Ustaw No. 104, Text 450, with further amendments).

With the exception of what appears to be a covert effort to force EU countries to raise corporate taxes to French and German levels, there is ostensibly nothing unreasonable in the Competitiveness Pact. Raising the retirement age to 67, abolishing wage indexation, and compelling countries to enshrine a debt brake in their national constitutions are reasonable measures to enhance competitiveness and restore confidence in the euro.

Moreover, any increase in spending on infrastructure or any revenue loss from tax reform should be offset elsewhere. For example, future growth in Social Security benefits or the home mortgage interest tax deduction could be scaled back for more affluent individuals, as progressive indexation, proposed by conservatives in the US, and the adjustment of mortgage interest tax deductions in the United Kingdom, started during the Thatcher administration, attest.

As can be seen, a rise occurred, due mainly to two factors an increase in the number of beneficiaries, from 2,743,000 in December 1985 to 3,261,000 in July 1995 and the recognition by the State of the debts built up during the years when the guidelines for indexation of incomes laid down in applicable legislation were not respected, as adjustment mechanisms were used which tied the total payments to available resources.

Since 1989 the allowance for single mothers has been determined at the fixed amount of 818,000 zlotys, subject to quarterly indexation under the general provisions. The allowance is payable for a period of 24 months, or 36 months if a woman takes care of more than one child born at a single confinement or a child requiring care on account of his her health condition, or if she is a single mother.

Their most obvious advantage is apparent when a country faces problems for example, proposing economic reforms or negotiating loan terms that are largely technical. A good precedent in Italy is Carlo Ciampi, who took the reins of government in 1993, after Italy was forced to drop out of the European Exchange Rate Mechanism, and managed to repeal the scala mobile (the wage indexation system), beat down inflation, and re board the train of European monetary integration.