German pensions reforms approved
Published:
12 May 2001 y., Saturday
Proposals by chancellor Gerhard Schröder for an overhaul of Germany's state pension system on Friday overcame their final parliamentary hurdle, after the Bundesrat - the second legislative chamber representing the federal states - voted in support of the reform package.
The result of Friday's vote became a foregone conclusion after two crucial swing states, Brandenburg and Berlin, announced on Thursday they would back the government bill, which seeks to buttress the creaking state system by introducing private provisions.
Drawn up by Walter Riester, the labour and social affairs minister, the plans are a central item in the government's programme for economical and structural reform, and Friday's vote is widely expected to enhance Mr Schröder's reputation as a moderniser ahead of next year's general election.
Although Mr Riester's reforms have been applauded by industry, trade unions and banking and insurance providers alike, many have criticised the bill for its complexity and the rigidity of its approach to private pension schemes. Under the proposals, Germans will be able to invest an additional 1 per cent of their gross wages in private or occupational schemes, rising to 4 per cent by 2008.
Šaltinis:
news.ft.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The fate of blue fin tuna hangs in the balance this week as a complete ban on the trade is debated by MEPs.
more »
A $100 million pledge from the Government of Japan has helped to secure the funding base and launch the operational phase of two new climate programs supporting forest management and renewable energy investments in developing countries.
more »
Europeans quite happy with their personal situation, but less satisfied with economic and social climate in their country.
more »
Spain wishes to “make as much progress as possible” to ensure the EU becomes party to the Council of Europe's Convention for the Protection of Human Rights and Fundamental Freedoms soon, according to the Spanish Minister for Justice, Francisco Caamaño, at today's opening of a seminar on the challenges and possibilities arising from the Treaty of Lisbon coming into force.
more »
According to Belarusian tradition, a stork brings good fortune to the village it settles in while in western culture the stork is commonly associated with childbirth.
more »
The World Bank Board of Directors today approved an additional financing credit to the Republic of Moldova in the amount of US $20 million for the Social Investment Fund II Project.
more »
The Spanish Health and Social Policy Minister, Trinidad Jiménez, and the European Commissioner for Employment, Social Affairs and Equal Opportunities, Vladimir Spidla, addressed the press in Madrid on the launch of the European Year for Combating Poverty and Social Exclusion 2010.
more »
The European Commission and the Spanish Presidency of the EU will tomorrow launch the 2010 European Year for Combating Poverty and Social Exclusion.
more »
Smoking at a restaurant like this one in Spain could soon be a thing of the past. Spanish lawmakers want to stub out the habit in public places like bars and restaurants. But it's an unpopular proposal in a country where around 30 percent of the population smoke.
more »
As President of the European Economic and Social Committee, I would like, on behalf of all the Committee's members, to express my sympathy to the victims of the earthquake in Haiti.
more »