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
It's 50 years since Tibetan spiritual leader the Dalai Lama fled here from Tibet in 1959 after a failed uprising against Chinese rule.
more »
Women across the EU earn on average 17.4% less than men, according to new EU statistics, released as part of a commission campaign to narrow the pay gap between the sexes.
more »
It's 1941 and the height of WWII. Amid all the suffering, a couple of Italians imprisoned for anti-fascism sketched out a vision of how post-war Europe could look on cigarette papers.
more »
Kenya's president Mwai Kibaki denies press accusations that he has a second wife.
more »
In the last 30 years the European Union has striven to seek gender equality in all aspects of its work.
more »
Proposals to boost shopper's confidence on the high street and the internet will be opened to public debate by MEPs Monday afternoon.
more »
How the EU promotes creativity and innovation – 20 projects showcased in Brussels
more »
A desperate battle to save the lives of hundreds of pilot whales beached on an island off Tasmania.
more »
Four year old Krishna Goraik‘s family refuse to arrange his funeral because child‘s mother believes by offering prayers he will come back to life after seven days.
more »
Leading MEPs have joined Nicole Kidman and the UN in the “Say NO to violence against women” campaign.
more »