ZAGREB, April 26 (Hina) - Labour and Pension System Minister Marko Pavic warned on Friday that a success of the referendum initiative aimed at restoring the retirement age to 65 would cost the state budget HRK 45 billion (EUR 6 billion) by 2040 and as a result pensions would be lower by five to seven percent.
Pension minister: Successful referendum would mean lower pensions
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