In other words, their income would be 15% higher had the 1995 policy stayed in place, and been adjusted in line with wage growth every year (this is in line with the drop in the maximum UA benefit entitlement shown in Annex Table A5). The “break-even” point is between the 6111 and 7,h earnings decile (indicated by the vertical dashed lines). At this earnings level the sum of benefits and taxes is unchanged relative to the 1995 system.