Social partners representing a portion of the companies in Germany's energy sector struck an agreement at the end of October on an all-new model for company pensions, dubbed a "social partnership model" (Sozialpartnermodell). Among other things, this model removes the requirement for companies to guarantee contributors a specific payment level for their supplementary pensions. Although the law enabling such a model – the German act to strengthen occupational pensions – came into force on 1 January 2018, it is the first time one of this kind has been negotiated.
The trade unions Verdi (services) and IG BCE (chemicals and energy) have agreed with several employers’ federations in the energy sector, namely the federation of water and energy companies (AVEW) and the employers’ association of Bavarian energy companies (AGV Bayern), as well as Uniper SE, Germany’s largest natural gas supplier, to sign an agreement intended to “boost” the use of company pensions, particularly at small and medium-sized companies. Formalised in a specific collective...
Do you have information to share with us?
Article authors
Thomas Schnee
Freelance