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Spain's 'Austrian backpack' pension plan back at centre of 29N pensions debate

With pensioners worried about cuts and young people unsure they will ever get a pension, company-funded individual schemes have long hovered over Spanish politics.

  • Austrian backpack, or abfertigung neu, introduced in Austria in 2003
  • Spain debates Austrian backpack ahead of November 29 general election
  • Public debt nears 100% of GDP, high unemployment and low wages in Spain

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