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Jun 27, 2003

Union leaders mum on latest talks

At news time there is no official word on the outcome of a meeting held this evening between union and government representatives on the subject of Social Security. News 5′s Patrick Jones spoke to union leaders as they emerged from the Central Bank building around five this evening, but none of them would comment on the results of the negotiations. Earlier reports indicate that government has already agreed to abandon its plans for a two-year increase in the retirement age, as well as increases in the amount of insurable earnings from three hundred and twenty to six hundred and forty dollars per week. Belmopan has been adamant, however, that actuarial studies dictate that the level of contributions must be raised from seven to eight percent of insurable earnings. The additional cost would be shared equally between employees and employers.

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