After having been before Parliament for seven years, the Social Insurance Bill was finally passed, last week, in time to win votes in the general election scheduled for this Spring.
The new measure will eventually provide disability benefits and old age pensions for approximately half the citizens of France. For this purpose an insurance fund totaling $4,000,000,000 will be gradually amassed by levying a special tax upon employers and employees which is expected to bring in $200,000,000 per year. While the fund is building up the insurance will come increasingly and proportionately into effect.
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