51.   In contrast to nearly all private pension plans, it is also totally portable and fully indexed for inflation.

52.   In late June, Madelin irked the Prime Minister by announcing the creation of private pension funds to supplement the state pension system.

53.   In June, the Peruvian Congress gave legislative powers to the executive to change the laws governing the stock market and the operation of private pension funds.

54.   In TV ads, he said, the unions were accusing him of trying to dismantle Social Security, Medicare, even private pensions.

55.   Insurance companies also expect to move into the retirement fund market, once the new private pension fund system has been up and running for a number of years.

56.   Investors may be speculating Edegel will be included on an expanded list of shares suitable for investing by the five private pension funds.

57.   Instead of suggesting the problem can be solved by a major shift towards private pensions, the bank calls for reform to the system itself.

58.   It is also speeding the development of private pension funds similar to those in Argentina and Chile.

59.   Investors in Peruvian debt in particular have been concerned about delays in allowing the local private pension funds to invest in the Brady bonds.

60.   Just as a private pension fund uses earnings on its assets to pay benefits, the Social Security system can use earnings from this trust fund to pay benefits.