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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (15385)	5/19/1999 8:48:00 AM
From: wl9839	Read Replies (2) \| Respond to of 22640

Backsliding Away on Pension Reforms It appears that slowly, silently, pension reform is slipping away. See post Number 15379 regarding volume of suits that have resulted in "temporarily?" stopping government from collecting contributions from retirees. In addition, the following appeared regarding abandonment of minimum age for retirement. ARE ALL OF THE PAST SIX MONTH REFORMS GOING TO END UP BEING A SMOKESCREEN? Gov't abandons minimum age for retirement São Paulo, 19 - President Fernando Henrique Cardoso decided Tuesday to define that workers be eligible for retirement at any age, as long as they reach 35 years (men) and 30 years (women) of contribution. Cardoso accepted the legislators interpretation of the bill submitted to Congress and did away with the clause which established minimum ages for retirement. According to the presidential spokesman, Cardoso preferred to avoid conflicts with the Chamber of Deputies. The Welfare ministry is already taking the necessary steps to proceed with 900 processes that have been suspended for problems regarding the period of contribution and minimum age. (O Estado de S. Paulo/ Jornal da Tarde/ Folha de S.Paulo/ Jornal do Brasil/ O Globo - edited by Sergio Caldas) Copyright © 1996 Agência Estado. All Rights Reserved.