The cabinet approved in principle the Career Average Revalued Earnings (Care) formula, a major reform of the Social Security pension system aimed at addressing long-standing complaints over unfair retirement benefits.
The reform would change how pensions are calculated, affect both future retirees and existing pensioners, and reshape the long-term finances of the Social Security Fund. Supporters say Care will better reflect workers' lifetime contributions and improve benefits for hundreds of thousands of retirees, particularly Section 39 members.
