But the premise of this agreement is measures to hold down ballooning old-age pension, medical, and nursing care costs.

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After all it was that arch-reactionary, Otto von Bismarck, who introduced the world's first welfare system, including the old-age pension, in Germany in the 1860s.

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Although Italian men must wait until 65 before they officially qualify for an old-age pension from the state, those who have got 35 years of contributions under their belts can retire and draw state pensions when they are 57.

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In 1975 -- by no coincidence the first year that benefits were indexed to inflation -- Social Security's pension fund, whose formal title is Old-Age and Survivors Insurace (OASI), paid out more than it took in.

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Scott Quenneville, a 41-year-old Hostess bread driver in Detroit, said he saw his pension eligibility age rise to 65 from 57 when Hostess stopped contributing to the pension in August.

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The proposed rules say the partial pension arrangement can't begin until an employee reaches 59.5 years old--an age based on current penalties for early distributions from retirement plans.

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