On August 13, 2008, after years of debate, the government adopted a bill to improve the protection of "long-term time savings accounts" (Langzeitkonten) in the event of a bankruptcy (Flexi II.) The German trade union confederation, DGB, said that this bill, which enforces a resolution written in the 2005 coalition contract, was "substandard." (Ref. 080652)
According to the Minister for Employment and Social Affairs, after uncertain debuts, an increasing number of businesses are establishing “long-term time savings accounts” which allow their employees to finance long-term leaves, for instance to attend continuing education, care for a sick parent, extend a parental leave, take a sabbatical or even retire early with no financial loss.
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