PENSIONS AFTER 25 YEARS

Manawatu Times, Volume XLVIII, Issue 3599, 3 April 1924, Page 5

PENSIONS AFTER 25 YEARS

ARGENTINE’S ADVANCED LEGISLATION. PLEASES NOBODT. rßy Electric Cable—Copyright.] [Aust. and N.Z. Cable Association.]

(Received Wednesday 11 p.m) BUENOS AIRES, April 1. The most outstanding piece of social legislation in the Argentine became effective to-day and is being bitterly opposed by both Labour Unions and employers. The new pension law applying to both natives and foreigners provides that any worker serving twenty-live years in any capacity becomes entitled to a life pension consisting of the salary he has been last earning. The law requires labourers to contribute live per cent, of their earnings and employers live per cent, of their pay roll 'to a general fund administered by the Government which upon completion of twenty-five years’ contributions will begin paying the lab-* ourer a monthly pension. Government officials admit that the law is imperfectly drawn and welcme minor amendments, but they declare it has the merit of awarding a pension while the worker is In the prime of live and really able to enjoy the benefits_ Neverthcless 'the Labour Unions oppose the measure because it is tpo complicated, and thereacens to mimimise their power, while the employ-ci-s’ opposition is based upon the elaborate book-keeping entailed and unwillingness to pay their share.