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
14-year-old Nathan Clark drowned after being sucked into the Thai water park in the popular resort of Pattaya pool's pumping system.
more »
The sixth day of Spain's Pamplona bull run got off with a bang.
more »
China drafts its first animal protection law to prevent animal abuse.
more »
You arrive at the airport ready for your flight - but upon arrival you find the flight has been overbooked leaving you waiting for another one.
more »
Former Defense Secretary Robert McNamara, the leading architect of U.S. involvement in the Vietnam War, has died in his sleep at his home in Washington, D.C.
more »
Tips and advice for a hassle-free holiday in Europe.
more »
Some EU countries are making it hard for other EU nationals to obtain residence permits.
more »
People, who lay claim to the state sponsored housing loans, can already submit applications on receiving a credit under preferential conditions in Bank SNORAS.
more »
From July 1, all gambling activities in Russia have to move to 4 designated zones, far from the bright lights of the big cities, or cease altogether.
more »
French President Nicolas Sarkozy supports a group of legislators, who've said they're concerned that increasing numbers of women are wearing burqas in France.
more »