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(Feb 02, 2008) On December 22, 2007, Germany's legislature enacted the Amending Law to Title 3 of the Social Code (Sechstes Gesetz zur Änderung des Dritten Buches Sozialgesetzbuch, BUNDESGESETZBLATT I at 3245), which reduces unemployment compensation from 4.2 percent to 3.3 percent of earnings. Half of these contributions are paid by the employer and the other half by the employee (SGB 3, Mar. 24, 1997, BUNDESGESETZBLATT I at 598, as amended, § 341), and they are levied on all wage income up to a limit that for most incomes in the western part of Germany in 2008 is €63.600 (US$93,244) (Verordnung, Dec. 5, 2007, BUNDESGESETZBLATT I at 2793, § 3). In addition, the Amending Law increases the length of time during which workers are entitled to unemployment compensation, by favoring older workers and longer periods of employment. Since the reform, workers over the age of 50 who worked for at least 30 months during the last five years are entitled to 15 months of unemployment compensation (formerly 12 months) and those over the age of 55 who worked at least 36 months during the last five years, to 18 months' compensation, whereas workers over the age of 58 who worked for least 48 months during the last five years are entitled to 24 months of unemployment compensation (formerly 18) (SGB 3, Mar. 24, 1997, BUNDESGESETZBLATT I at 598, as amended, § 434 r.)
|Author:||Edith Palmer More by this author|
|Topic:||Labor More on this topic|
|Jurisdiction:||Germany More about this jurisdiction|
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Last updated: 02/02/2008