Pensions in Germany Pensions in Germany Pensions in Germany are based on a “three pillar system”. The scheme is based on the pay-as-you-go (or redistributive) model. Funds paid in by contributors (employees and employers) are not saved (or invested) but are used to pay current pension obligations. Civil servants in Germany do not pay any contributions themselves but their salaries are correspondingly lower than those in the private sector. Recent changes to the system mean that from 2012 to 2023 the retirement age will go up to 66 by 2023. From 2023 the retirement age will be increased by two months each year,
Old-Age Pensions Act 1908 31 December 1908 a total of 596,038 pensions had been granted: Initially, most of the recipients of the pension benefit were women. In order to remove any stigma in receiving the benefit, the scheme was administered by the Post Office rather than the existing social welfare agencies such as the parish or Poor Law. Old-Age Pensions Act 1908 The Old-Age Pensions Act 1908 is an Act of Parliament of the United Kingdom, passed in 1908. The Act is often regarded as one of the foundations of modern social welfare in the United Kingdom and forms part of the wider social