And it would reduce some fees for small businesses setting up traditional pension programs.

This figure will grow each year in order to put the pension program on the right financing track by 1998.

The legal battle is also considered significant because it could influence how other bankrupt companies handle their pension programs.

Money could be invested in a long-term pension program, as Norway does with some of its oil revenue.

During his tenure, he oversaw improvements to the curriculum and the beginning of a pension program for the staff.

Ultimately, he said, the plan to build a pension program in Switzerland failed.

In last year's budget, the military received a 4.8 percent pay increase and improvements in its pension program.

"Frequently they have very good pension programs," he said.

Likewise, public pension programs transfer wealth from the young to the old.

Public servants are often not covered by Social Security but have their own pension programs.