US Plans to Cut Future Military Pensions 20%

A proposal by the US Department of Defense submitted to Congress would reduce military pensions by 20 percent after troops complete their 20 years of duty. For the first time, members of the US armed services will automatically, upon entry, contribute to their retirement plan from their current compensation, according to the white paper. “Future Service members will receive 80% of the current defined benefit (pension) if they serve for 20 years,” the six-page white paper sent to legislat...
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Russia may sell its Debt in Yuan

Russia is considering issuing debt in Chinese yuan in the coming years, which will facilitate Russian corporate borrowers’ access to the Chinese market, Russia’s Deputy Finance Minister Sergei Storchak said. "In general, study of the Chinese market's opportunities is currently underway," Storchak told journalists on Wednesday. The yuan bond issues could happen in the coming years, but only after a proper study, the official added. The Russian Ministry of Finance has a lot of issues to expl...
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