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Each additional year of the experience (thus the pension could not exceed 100 %
The basic salary). by them it was covered it number of victims., In it the insured used the right to pensions on
Physical inabilities even in case of a partial mutilation. Though the size of these pensions was
_4. The minimum pensions _
Both in old, and in new pension systems the established is provided
The legislation the minimum size of pension. As both there, and there it is a question
About the payments financed by the state, it is possible to tell that in both systems
Redistribution of means exists when payments in itself
Are not capable to provide the pension which size would be equal to the guaranteed
The state to a minimum. Nevertheless in new system the situation is more evident,
As the state pays only a difference between size minimum
Pensions and that the investor has managed to save up.
The minimum pension represents a special kind of the payments financed
The state (the same as deductions on a family, the uniform family grant,
Maternity and birth benefit, the unemployment benefit and system of the social
The grants, entered into 1975) and consequently does not depend on what system
Provision of pensions it is involved - on the basis of individual accumulation
Or on the basis of redistribution.
_it on employment _
As pension payments are paid from labour incomes insured,
They represent some kind of the tax to work. This taxation raises
Expenses for a labour that finally leads to level decrease
It is necessary to remind that expenses of investors in old and new pension systems
Are various. At old system the average rate of a payment for pension financing in
The period 1970 - 1980 equaled approximately 24 % of size of incomes (mean
- and it) whereas at new system it fluctuates within 13,2 - 13,9 %
(1990). It means that the influence rendered by pension payments on
Labour cost - and consequently, and on an occupation level - at new
To system much less.
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