|
Pensions In Germany
The German pension system, known as the "public retirement insurance," was established over 100 years ago by Chancellor Bismarck, making it the world's first formal pension system. It has been successful in providing a high and reliable level of retirement income and has served as a model for numerous social security systems globally. Originally designed as a scaled premium system, it became a pay-as-you-go system in 1957, mandating participation for all dependent employees and certain self-employed groups. The system is characterized by a fragmentation in terms of institutions, coverage, contributions, and benefit levels. Pensions in Germany are based on a “three pillar system”. * First pillar: mandatory state pension insurance (''gesetzliche Rentenversicherung''). This part of the basic social security system. All employees and employers pay a percentage of salaries into this system. * Second pillar: voluntary occupational pension insurance * Third pillar: private insurance ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Otto Von Bismarck
Otto, Prince of Bismarck, Count of Bismarck-Schönhausen, Duke of Lauenburg (; born ''Otto Eduard Leopold von Bismarck''; 1 April 1815 – 30 July 1898) was a German statesman and diplomat who oversaw the unification of Germany and served as its first Chancellor of Germany, chancellor from 1871 to 1890. Bismarck's ''Realpolitik'' and firm governance resulted in him being popularly known as the Iron Chancellor (). From Junker (Prussia), Junker landowner origins, Otto von Bismarck rose rapidly in Prussia, Prussian politics under King William I, German Emperor, Wilhelm I of Prussia. He served as the Prussian ambassador to Russian Empire, Russia and Second French Empire, France and in both houses of the Landtag of Prussia, Prussian parliament. From 1862 to 1890, he held office as the Minister President of Prussia, minister president and foreign minister of Prussia. Under Bismarck's leadership, Prussia provoked three short, decisive wars against Second Schleswig War, Denmark, Austr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Handelsblatt
The ''Handelsblatt'' (literally "commerce paper" in English) is a German-language business newspaper published in Düsseldorf by Handelsblatt Media Group, formerly known as Verlagsgruppe Handelsblatt. History and profile ''Handelsblatt'' was established in 1946 by journalist Herbert Gross, but after some months Friedrich Vogel (1902–1976) became publisher. In 1969, Georg von Holtzbrinck became partner of Friedrich Vogel. Since 2021, its editor-in-chief is Sebastian Matthes. Its publisher, Handelsblatt Media Group, also publishes the weekly business magazine ''Wirtschaftswoche'' of which the editor-in-chief is Beat Balzli. ''Handelsblatt'' headquarters are in Düsseldorf. Since September 2005 ''Handelsblatt'' has been offering an online lexicon called ''WirtschaftsWiki'' which features definitions of terms used in economics and politics. The database can be modified by any registered user. In September 2006 ''Handelsblatt'' ranked all economists working in Germany, Austria ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wirtschaftswoche
''Wirtschaftswoche'' is a German weekly business news magazine published in Germany. ''Wirtschaft'' means “economy” (including business), and ''Woche'' is “week”. History and profile For many years, ''Wirtschaftswoche'' was published weekly on Thursdays, but since March 2006, this has been changed to Mondays. The editorial office is in Düsseldorf. The publisher is Verlagsgruppe Handelsblatt, which also publishes '' Handelsblatt''. The magazine provides business- and economy-related news. Its target audience is managers and business people. In November 2014 Miriam Meckel was appointed editor-in-chief of the weekly. Under the leadership of Miriam Meckel, WirtschaftsWoche has gone through a major structural as well as design relaunch with edition 20/2015. The magazine has slightly changed its logo as part of this redesign. Circulation In the period of 2001–2002, ''Wirtschaftswoche'' had a circulation of 187,000 copies. For the first quarter of 2005 the circulation o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Self-employed
Self-employment is the state of working for oneself rather than an employer. Tax authorities will generally view a person as self-employed if the person chooses to be recognised as such or if the person is generating income for which a tax return needs to be filed. In the real world, the critical issue for tax authorities is not whether a person is engaged in business activity (called ''trading'' even when referring to the provision of a service) but whether the activity is profitable and therefore potentially taxable. In other words, the trading is likely to be ignored if there is no profit, so occasional and hobby- or enthusiast-based economic activity is generally ignored by tax authorities. Self-employed people are usually classified as a sole proprietor (or sole trader), independent contractor, or as a member of a partnership. Self-employed people generally find their own work rather than being provided with work by an employer and instead earn income from a profession, a t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Pensions
Pensions in the United Kingdom, whereby United Kingdom tax payers have some of their wages deducted to save for retirement, can be categorised into three major divisions – state, occupational and personal pensions. The state pension is based on years worked, with a full 35-year work history yielding a pension of £203.85 per week. It is linked to the Consumer Prices Index (CPI) rate. Most employees are also enrolled by their employers in either defined contribution or defined benefit pensions which supplement this basic state-provided pension. It's also possible to have a Self-invested personal pension (SIPP). Historically, the "Old Age Pension" was introduced in 1909 in the United Kingdom (which included all of Ireland at that time). Following the passage of the ''Old Age Pensions Act 1908'' a pension of 5/— per week (£, equivalent, using the Consumer Price Index, to £ in ), or 7/6 per week (£, equivalent to £/week in ) for a married couple, was payable to persons with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Pensions
Pensions in the United States consist of the Social Security system, public employees retirement systems, as well as various private pension plans offered by employers, insurance companies, and unions. History While various iterations of what could be considered pensions existed before the declared independence of the United States, most were designed solely for veterans of wars or set up as charitable initiatives by Church communities. This trend continued throughout early American history, with much of the first veterans' pension under the newly formed United States offered to retired naval officers in 1799. The United States Congress later created the Bureau of Pensions to oversee an increasing number of veterans' pensions in 1832 following the granting of pensions to all American Revolutionary War veterans. Eventually, responsibility for these pensions would be transferred to the Department of the Interior in 1849 as returning veterans from the Mexican–American War put fu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pensions In Austria
The pensions system in Austria is composed of three parts: occupational pensions, private pensions, and state pensions. However, private and occupational pensions are secondary to the public pension issued through the state. According to the Organization for Economic Co-Operation and Development (OECD), Austria's pension system is categorized as ''targeted''. This means that their system is set up to preferentially benefit poorer pensioners than those that are better off. Public pension Austria introduced their uniform pension system through The Act on the Harmonisation of Austrian Pension Systems on January 1, 2005. This act provides a pension for anyone employed and under the age of 50. This uniform pension system is the reason why private and occupational pensions are second to the state pension. Austria's public (or state) pension system is a pay-as-you-go (PAYG) system. This system is funded by those currently working and employers too. Employees contribute 10.25% of their ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pensions In France
In France, pensions fall into five major divisions; * Non-contributory minimum pension *Mandatory state pension provision (first pillar) *Mandatory occupational pension provision (second pillar) *Voluntary private collective pension provision (third pillar) *Voluntary private individual pension provision (third pillar). Non-contributory minimum pension This minimum pension () is the first level of the first pillar of the French pension system. The ASPA is a monthly benefit paid to low-income seniors, whether or not they are former employees. It is not a retirement pension: it is financed by the State, not by social contributions. It is a "social minimum", like the RSA (revenu de solidarité active). Since January 1, 2006, it has replaced the multiple components of the minimum old-age pension or the '' "Minimum vieillesse" '' in french. This pension is paid by the CNAV, the Caisse Nationale d'Assurance Vieillesse, the French social security organization that manages the basi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pensions In The Netherlands
Pensions in the Netherlands consist of three pilar old age pension system made up of a state pension system, a private pension system regulated by pension law, and individual private pension. The systems are provided through a diversity of funding sources and are considered as fair of distribution for people living in the Netherlands. It is supervised by the Dutch central bank and the Dutch financial market authority. The Dutch pension system combines a pay-as-you-go system, in which workers pay for retirees' benefits, and an individual investment system. Compared with other countries, the Netherlands is relatively better at solving the problem of population aging, because it absorbs different pension fund models and implements consistent and risk-sharing policies. In 2020 it came out at or near the top in international rankings according to the Mercer Global Pension Index. On 1 July 2023, the Future Pensions Act came into effect revising the Dutch pension system. Ranking Acc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension System In Switzerland
The Swiss pension system rests on three pillars: # the state-run pension scheme for the aged, orphans, and surviving spouses (old-age and survivor's insurance); # the pension funds run by investment foundations, which are tied to employers (occupational benefit plans); # voluntary, private investments. Overview †Funds paid into the 2nd and 3rd pillar may be paid out before without retiring when certain criteria are met. First pillar The basic pension insurance is the old-age and survivor's insurance (OASI). It is known as ''Alters- und Hinterlassenenversicherung'' (AHV) in German, ''Assurance vieillesse et survivants'' (AVS) in French, and ''Assicurazione vecchiaia, superstiti e invalidità'' (AVS) in Italian. According to article 112 of the Constitution of Switzerland, Swiss federal Constitution, the first pillar should cover basic living expenses adequately. It is a PAYGO system, financed by contributions from employees and employers (4.2% of the employee's income each), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sozialgesetzbuch
Social security in Germany is codified on the ''Sozialgesetzbuch'' (, SGB ), or the "Social Code", contains 12 main parts, including the following, *Unemployment insurance and public employment agencies (SGB II and III) *Health insurance (SGB V) *Old age, widow's/widower's, orphans and disability pension insurance (SGB VI) * Invalidity insurance (SGB VII and IX) *Child support (SGB VIII) *Social care (SGB XI) Unemployment Unemployment benefit I The ''unemployment benefit I'' in Germany is also known as the unemployment insurance. The insurance is administered by the Bundesagentur für Arbeit (Federal Employment Agency, BA) and funded by employee and employer contributions. This in stark contrast to FUTA in the US and other systems; where only employers make contributions. Participation (and thus contributions) are generally mandatory for both employee and employer. All workers with a regular employment contract, except freelancers and certain civil servants, contribute to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pan-European Pension
The Pan-European Pension Product (PEPP) or like Pan-European Personal Pension Product is a proposed pension which will be available to residents of the European Union. The PEPP is designed to give the 240 million savers in the EU a better choice in the fragmented and uneven European market, where options are nearly non-existent in some member states. PEPPs are regulated by the Regulation 2019/1238. This regulation lays the legal foundation for a single European market for personal pensions. The PEPP will be complementary to existing state, occupational and private pension systems on national level. After endorsement by the European Parliament and official adoption by the European Council the PEPP regulation was published in July 2019 and will enter into application in August 2020. The first PEPPs are expected to be offered in late 2021. Valdis Dombrovskis, a vice-president of the European Commission responsible for financial services, said "It has enormous potential as it will off ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
