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Investor Presentaiton

0 10 115 45 45 40 40 35 35 30 30 25 25 20 20 15 1991 Social assistance level ("living minimum") has declined drastically in relative terms Living minimum is fixed in nominal terms Living minimum (social assistance) Basic and minimum old-age pension (contributory scheme) Minimum wage % of gross average wage Source: Figure 3.13. 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 • It fell in real terms and declined sharply relative to wages It will lose relevance in the future if no change OECD Recommendations: Index the social assistance benefit level to nominal wage growth 18
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