According to the report, while 68 per cent of older persons around the globe receive a pension, the benefits levels
Some policyholders have simply agreed to pay higher premiums, but enough have accepted lower benefits levels
or let policies lapse to let Genworth release $26 million in reserves, the company says.
The minimum annual benefits levels
will increase twice before 2014.
The slump brought benefits levels
back to pounds 4bn for 2008 as the sector shed thousands of workers and bonus awards were slashed.
The answer is not to reduce benefits levels
, or to force ill people to work.
As recently as 2000, California's premium and claims costs were the highest in the nation, and its benefits levels
for injured workers rivaled the lowest.
Typically, these benefits levels
are adjusted for inflation by the states no more than once a year.