TERMIUM Plus®

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RECOGNITION BOND [1 record]

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Record 1 1997-10-27

English

Subject field(s)
  • Finance
  • Pensions and Annuities
CONT

... the workers already in the workforce, who had contributed to the state [pension] system, were given the option of staying in the system even though we thought its future was problematic. Those who moved to the new system received what we call a "recognition bond", which acknowledges their contributions to the old system. When those workers retire, the government will cash the bonds. New workers have to go into the new private system because the old system is bankrupt.

French

Domaine(s)
  • Finances
  • Pensions et rentes

Spanish

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