Growing old in dignity

The German pension system on trial

Nonfiction, Social & Cultural Studies, Political Science, International, Foreign Legal Systems
Cover of the book Growing old in dignity by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg, GRIN Verlag
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg ISBN: 9783656049661
Publisher: GRIN Verlag Publication: November 7, 2011
Imprint: GRIN Verlag Language: English
Author: Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
ISBN: 9783656049661
Publisher: GRIN Verlag
Publication: November 7, 2011
Imprint: GRIN Verlag
Language: English

Research Paper (undergraduate) from the year 2011 in the subject Politics - Political Systems - Germany, grade: 1,0, University of applied sciences, Düsseldorf, course: Economics - MBA, Master of Business Administration, language: English, abstract: This paper surveys the situation of the German pension system after a sequence of reforms which started as a fully funded system implemented by Bismarck during the 1880s, with a mandatory retirement age of 70 years when male life expectancy at birth was less than 45 years. Today, life expectancy for men is more than 80 years. After a long and arduous debate in the German Bundestag, agreements on a comprehensive pension reform resulted in the pension reform of 1957, which mainly established changes such as the normal retirement age at 65, the retirement at the age of 60 for elderly unemployed, the retirement for women at the age of 60 and, at last, the introduction of dynamic benefits indexed to gross wages which had an immediate impact on the economic wellness of current retirees. Thereafter, the 1972 reform made the German pension system one of the most generous of the world, as it mainly opened the public pension insurance system to all workers with generous terms for back-payment of contributions and eased the terms and conditions for early retirement by the implementation of the so-called 'flexible retirement', as discussed in chapter 1 of this paper. The following pension reforms discussed in this paper are the 'Riester reform' of 2001 with the following main objectives: the sustainability of contribution rates in order to secure the long-term stability of pension levels and the spread of supplementary private pension savings, and continuing with the efforts of the Rürup commission which culminated in the 'Rürup reform' of 2004 which the objective to stabilize contribution rates while at the same time ensuring appropriate future pension levels. Based on the above, it can be concluded that on the whole the sequence of pension reforms in Germany has successfully converted what was once a so called monolithic Bismarckian public insurance system to an efficient multi-pillar. Given this situation, as discussed in chapter 2 of this paper, the German pension system nowadays are based in a three-pillar system, consisting of the following elements: The first and most important pillar is universal and mandatory, organized as a pay-as-you-go system. The second pillar is the voluntary occupational pension system which is also universal and mandatory, but capital funded. The third pillar is also capital funded, but organized as a voluntary private provision system.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Research Paper (undergraduate) from the year 2011 in the subject Politics - Political Systems - Germany, grade: 1,0, University of applied sciences, Düsseldorf, course: Economics - MBA, Master of Business Administration, language: English, abstract: This paper surveys the situation of the German pension system after a sequence of reforms which started as a fully funded system implemented by Bismarck during the 1880s, with a mandatory retirement age of 70 years when male life expectancy at birth was less than 45 years. Today, life expectancy for men is more than 80 years. After a long and arduous debate in the German Bundestag, agreements on a comprehensive pension reform resulted in the pension reform of 1957, which mainly established changes such as the normal retirement age at 65, the retirement at the age of 60 for elderly unemployed, the retirement for women at the age of 60 and, at last, the introduction of dynamic benefits indexed to gross wages which had an immediate impact on the economic wellness of current retirees. Thereafter, the 1972 reform made the German pension system one of the most generous of the world, as it mainly opened the public pension insurance system to all workers with generous terms for back-payment of contributions and eased the terms and conditions for early retirement by the implementation of the so-called 'flexible retirement', as discussed in chapter 1 of this paper. The following pension reforms discussed in this paper are the 'Riester reform' of 2001 with the following main objectives: the sustainability of contribution rates in order to secure the long-term stability of pension levels and the spread of supplementary private pension savings, and continuing with the efforts of the Rürup commission which culminated in the 'Rürup reform' of 2004 which the objective to stabilize contribution rates while at the same time ensuring appropriate future pension levels. Based on the above, it can be concluded that on the whole the sequence of pension reforms in Germany has successfully converted what was once a so called monolithic Bismarckian public insurance system to an efficient multi-pillar. Given this situation, as discussed in chapter 2 of this paper, the German pension system nowadays are based in a three-pillar system, consisting of the following elements: The first and most important pillar is universal and mandatory, organized as a pay-as-you-go system. The second pillar is the voluntary occupational pension system which is also universal and mandatory, but capital funded. The third pillar is also capital funded, but organized as a voluntary private provision system.

More books from GRIN Verlag

Cover of the book 'Facebookers' vs. 'Donor Darlings' by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Die Einführung Neuer Technologien in Unternehmen: Mitarbeiterpartizipation als eine Strategie zur Stressvermeidung by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Demenz - eine Indikation für Musiktherapie? by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Produktportfolio als Controllinginstrument by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Die Bedeutung der Familie und ihrer Funktion in der Zeit vom 19. Jh bis zur Gegenwart by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Die Bedeutung des Viermächte-Abkommens vom 3. September 1971 für die Entspannungspolitik des Ost-West-Konflikts by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Impact of Store Atmospherics on Impulse Buying Behavior Regarding Shopping Goods in Pakistan by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Einfluss von Persönlichkeitsmerkmalen auf die Leistung bei der Zusammenstellung von Gruppen by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Präventions- und Interventionsansätze zu Angst in der Schule by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book E-Commerce/ E-Business für deutsche Unternehmen im internationalen Handel by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Laterales Denken by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Addition und Subtraktion mit dezimalen Euro-Beträgen - Differenziertes Üben zur Einheit mit dem Matheplan by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Nietzsche als Religionskritiker in seinem Werk 'Der Antichrist' by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book 'Magie des Zerfalls' - Der geopoetische Kosmos des Andrzej Stasiuk by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
Cover of the book Paul Gerhardts Lieddichtung 'O Haupt voll Blut und Wunden' mit Einbeziehung ihres Wirkens in den Vertonungen von Johann Sebastian Bach und Felix Mendelssohn-Bartholdy by Eugen Stumpf, Benedito de Almeida Carvalho, Marco Honsberg
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy