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
The Pensions Advisory Service The Pensions Advisory Service The Pensions Advisory Service (TPAS) is a UK non-departmental public body and independent non-profit company limited by guarantee which provides free information, advice and guidance on state, company and individual pension schemes. Additionally they help any member of the public who has a problem, complaint or dispute with their occupational or private pension arrangement. The organisation is grant-aided by the Department for Work and Pensions. The service is provided by a nationwide network of volunteer advisers with the required knowledge and experience who are supported and augmented by a technical and administrative staff based in London.