Legal experts weigh alternatives to ‘Dutch-style’ pensions in Germany

first_imgThe pensions industry, however, largely rejected the notion of §17b plans for essentially introducing a pure defined contribution system in Germany for the first time.In March, the government put on hold a revised proposal that included minimum guarantees to see through the implementation of the Portability Directive, scheduled for early 2016.BMAS now wants to explore possible alternatives to the §17b industry-wide proposal.In a statement, it said Hanau and Arteaga would consider whether new pension funds have to be set up under the §17b model, as well as how existing pension funds might benefit from the proposal.They will also assess how companies and workers lacking collective labour agreements might be integrated into the new model.Gabriele Lösekrug-Möller, parliamentary state secretary to BMAS, said the voluntary expansion of occupational pensions would work “only after the social partners are strengthened”.Once the legal experts submit their final report in March 2016, the government is to decide how to “further develop occupational pensions and how to best strengthen the model”. The German government has commissioned Peter Hanau, a professor in the University of Cologne’s legal department, and Marco Arteaga, a partner at law firm DLA Piper, to come up with further proposals for occupational pension reform.The legal experts are to focus on the so-called ‘social partner model’, where occupational pension plans are agreed by company and worker representatives.Last year, Germany’s Labour and Social Affairs Ministry (BMAS) caught many in the industry by surprise after it called for the introduction of industry-wide pension funds, in a bid to increase the take-up of occupational pensions.The government’s proposal became known as §17b, based on the legal paragraph in which they would be set down.last_img read more

Man Aircared After Overnight Incident In Sunman

first_imgSUNMAN, Ind.– Ripley County dispatchers indicate horseplay may be to blame for one man suffering injuries in Sunman early Tuesday morning.They say two men got into some sort of scuffle leading to emergency units being called to the scene around 12:30 a.m.One man was airlifted to a Cincinnati hospital and his identity and condition was not immediately released.last_img

Gillespie Records Win At Oracle ITA Masters

first_imgStory Links MALIBU, Calif. – Drake men’s tennis Vinny Gillespie continued action at the Oracle ITA Masters on Friday. Mixed Doubles Draw Consolation Draw Gillespie began his day completing in the mixed doubles draw with Wichita State’s Gabriela Porubin. The duo opened the draw with a win Winthrop’s Lauren Procter and North Florida’s Jack Findel-Hawkins, 6-4, but fell to the No. 1 seed Lee/Rinderknech (MSU//A&M), 6-2, in the second round. Gillespie closed out his day with a 6-1, 7-6 victory over UC Davis’ Alec Adamson to advance to the quarterfinals of the consolation draw. Gillespie will square off against Baylor’s Max Tchoutkian on Saturday in the quarterfinal of the consolation draw. Print Friendly Versionlast_img read more