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
Prosecutors in Germany have been outlining their case against a man accused of aiding those behind the September 11th attacks
more »
Latvian police said this week that they discovered a kilometer-long plastic pipe running from Russia to Latvia that was funneling illegally brewed spirits
more »
Over 811 women from Eastern Europe countries, mainly from Bulgaria, Russia and Lithuania were illegally taken to Germany over the last year
more »
A month ahead of the EU referendum in Estonia the government can breathe easier
more »
European Union supporters in Latvia and Estonia expressed concern Thursday about a new survey pegging their countries as the most EU-skeptical in Europe
more »
Criticism was the order of the day on European op-ed pages after the Holy See urged Catholic lawmakers to oppose legalizing gay marriages
more »
'Only 1 in 10' restaurants in line with hygiene regulations
more »
A BID by one man to reclaim more than one billion pounds worth of property in the Czech Republic is threatening to open the floodgates for compensation claims from 2.5million ethnic Germans
more »
President Leonid Kuchma and his Polish counterpart Aleksander Kwasniewski attended a reconciliation ceremony in Pavlivka to commemorate ethnic Poles
more »
Fears of another assassination attempt did not appear to affect President Jacques Chirac as he led France's celebrations to mark Bastille Day
more »