T T Mboweni: Monetary policy, inflation targeting and inflation pressures Address by Mr T T Mboweni, Governor of the South African Reserve Bank, to the Bureau for Economic Research Annual Conference, Johannesburg, 22 May 2008. *  *  *  Honoured Guests Ladies and Gentlemen 1.
In Finland, older workers are given higher accrual rates. Austria, France, Germany and Portugal increased the benefit reductions for early retirement and increments for late retirement. Large decreases in the take up ratio of pensions are furthermore projected in Hungary, Poland, Czech Republic, Italy and Slovenia. In Luxembourg, pensions are increased beyond two thresholds related to age and the length of the career, respectively.