Portugal government seeks 10 percent public sector pension cut

LISBON (Reuters) - Portugal's government proposed a bill on Thursday to cut public sector pensions and reduce a gaping hole in the system that is hampering efforts to shift the bailed-out country's finances onto a sustainable footing.

Pensions for retiring public servants of more than 600 euros a month will be slashed by around 10 percent on average from the start of 2014, according to the bill, which was approved at a cabinet meeting and will now be presented to parliament.