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 Ukraine Pensions in Ukraine Pensions in Ukraine are provided pursuant to the Law of Ukraine on Compulsory State Pension Insurance(statements of the Ukrainian Supreme Council,2003,№№ 49-51,art.376) that stipulates the three-tiered pension provision system. It is appropriate to take a look at this system in order to understand how pensions are paid out as well financed and which indicators influences pension calculation. This level is otherwise described as solidarity system since it is based on solidarity and subsidizing principles. So within this framework pensions are assigned according to the achieving of certain age( 60 for men and 58,5 for women),invalidity and loss