German parliament approves basic pension law

first_imgThe basic pension is calculated in steps, from 33 to 35 years of contribution, and is guaranteed after assessing that single earners own a maximum monthly income of €1,250 (€15,000 per year), and €1,950 per month (€ 23,400 per year), for married couples or partners.The German Trade Union Confederation DGB union welcomed the introduction of the basic pension.“The pension must be enough to live in dignity. This also applies to those people who have had low wages in their professional lives and therefore receive a low pension,” Anja Piel, member of the executive board at DGB, told IPE.The Minister of Labour and Social Affairs Hubertus Heil had proposed a “good draft” for the basic pension law, but unfortunately it was changed, and “damaged”, during the negotiations with the coalition partner CDU/CSU, Piel said.“The pension must be enough to live in dignity”Anja Piel, member of the executive board at DGB“The CDU/CSU has made the process of calculating the basic pension extremely complicated and far fewer people will benefit,” she said, adding that the unions have always rejected the income as a measure to grant the basic pension.Under the new law, the financial support to employer-financed company pension schemes for low-wage earners will be increased from a maximum of €144 to a maximum of €288. This supports employers’ contributions of up to a maximum of €960, according to the legislator.In 2018, with the Betriebsrentenstärkungsgesetz, a new tax incentive in the form of subsidy was introduced for company pensions, especially for low earners, meaning employees with a monthly gross wage of up to €2,200, can get a maximum €144 per calendar year.The Union had promised its political support for the approval of the basic pension in exchange of the reform of the Riester-Rente and an expansion of the occupation pension through tax incentives, as reported.“The coalition groups have also agreed to present a reform of private provision (Riester savers) in October,” said the pension expert for the CDU/CSU parliamentary group, Peter Weiß, during the parliamentary debate.For Piel, a reform is necessary because the private pension schemes are too expensive and inefficient, but it is not a solution for reliable old-age insurance. The German parliament, Bundestag, has approved the law for the introduction of the basic pension – Grundrente – from 1 January 2021.The grand coalition partners CDU/CSU and SPD voted in favour, the right-wing Alternative for Germany (AfD) and the liberal party FDP were against the measure, while the Greens and Die Linke abstained.The parliamentary commission on Labour and Social Affairs gave yesterday its green light to vote on the law proposed by the government.The Grundrente is paid in the form of a supplement to pensioners with at least 33 years of contributions to the statutory pension insurance based on periods of employment, child-rearing or care work. Anja Piel at DGB“We need a strong statutory pension and good company pensions as a supplement,” she said.Diakonie Deutschland welcomed the introduction of the basic pension, too.“The basic pension is an important answer to the concerns of 1.3 million pensioners, an important signal especially for women who worked part-time for a long time, raised children or cared for relatives,” Maria Loheide, member of the executive board responsible for social policy at Diakonie Deutschland, told IPE.For Loheide, the basic pension reinforces the idea of statutory pension insurance as a central component of the system in Germany, but furthers steps are required.Diakonie Deutschland proposes a uniform tax exemption for all types of old-age provisions for basic security benefits, to include self-employed and civil servants in the statutory pension insurance, and not to favour private and company pensions, she added.Mario Ohoven, the president of the federal association of small and middle-sized businesses – Unternehmerverband Deutschlands e. V. (BVMW) – called the basic pension an “uncovered check”, adding that the promised European financial transaction tax “does not yet exist”.To read the digital edition of IPE’s latest magazine click here.last_img read more

Bolger opens up with one-two

first_img Ard San Aer broke smartly in the five-furlong contest and led the field of juveniles along before being joined by stablemate Mimicking down the outside going to the furlong pole. The 2-1 favourite, racing in the colours of Godolphin from her wide draw in stall one, soon asserted and she went away to score by a length and three-quarters in the hands of Kevin Manning. Bolger, later successful with Flight Risk and Parish Hall, said: “Kevin was very happy with her. She could go for the Marble Hill (at the Curragh next month) and maybe (Royal) Ascot. She was a little bit green but was on her own out there, and I thought she did it well from the stall she was in. The second is speedy and hopefully he has a future as well.” Manning added: “She has done it well. She had an outside draw into a headwind, but I couldn’t afford to be dropping in. They were all abreast across the track. She’s done it the hard way. She picked up when she met the rising ground. I’d be very pleased with her.” Penny Pepper (5-1) finished second on both her runs when trained by Eve Johnson Houghton in England last year, and she took the Irish Stallion Farms EBF Fillies Maiden on her Irish debut for the Kevin Prendergast team. Always prominent under the in-form Chris Hayes, she asserted from the quarter-mile pole to score by two and a half lengths without being threatened as Countess Constance grabbed second spot. Prendergast said: “She was in training in England last year and I have had her since January. Hopefully she can get some black type. She travelled nicely and was a little bit fresh. I trained the dam (Evening Time) and she was quite good.” Hayes added: “She had been doing things nicely without us turning the screw. I was very happy with her. What sort of race it was I don’t know – to be honest, it didn’t ride the strongest of races. All my filly can do is improve. I’d say her overall target would maybe be that big sprint for three-year-olds only in Naas in a couple of weeks’ time.” Aidan O’Brien took the concluding Irish Stallion Farms EBF Maiden for three-year-olds with the yard’s supposed second string, the debutant Sandro Botticelli (11-1), ridden by Seamie Heffernan. Stablemate Los Barbados was sent off the favourite but got into a barging match down the outside as Sandro Botticelli, a son of Galileo, slipped through on the rails to win by three-quarters of a length. Jim Bolger initiated a treble when he sent out two newcomers in the Irish Stallion Farms EBF Maiden at the Curragh to land a one-two for the stable.center_img Press Associationlast_img read more

CONFIRMED! Leeds complete loan deal for midfielder

first_imgLeeds United have landed Mustapha Carayol on loan from Middlesborough until the summer.The 27-year-old has recently returned from a loan spell at Huddersfield, where he scored three goals in 15 Championship outings.But Leeds have moved fast to bring the winger to Elland Road, as they bid to make a late charge for the play-offs.Steve Evans’ side currently sit 13th in the Championship but are only nine points outside the top six with 21 games still left to play.And the Yorkshire side hope the injection of searing pace that Carayol will provide can boost their chances of securing a spot. Mustapha Carayol 1last_img