Pensions in Germany forgo a percentage of their state pension. 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
Pensions in the Republic of Ireland test evaluates a citizens cash income, capital (excluding their home), and income derived from personally used property. The Social Welfare and Pensions Act of 2011 made changes to the qualifications needed for both the Contributory and Non-Contributory State Pensions. The act rose the qualifying age from 66 in a stepwise manner. Those born after 1 January 1955, but before 1 January 1961 are now are eligible to collect their state pension at 67. All those born after 1 January 1961 will be eligible to collect their pensions at 68. Raising the pension eligibility age of pensions is a contentious issue,