Wednesday, November 23, 2011
Pension reform in Nicaragua
The National Social Security Institute of Nicaragua has issued a proposal to strengthen the pension system. The main initiatives are to increase the rates of contribution, to promote affiliation of young workers, to increase the cap on maximum taxable wages, to increase the statutory age at retirement to 65, to increase the bonus for extra years of contribution, and to create an option for individual savings managed by the INSS.
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The Nationwide Public Stability Company of Nicaragua has supplied a offer to enhance the retirement living system. The main projects are to improve the charges of contribution.
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