Germany/ Committee set up to develop pension reform. On Thursday 3 May, Hubertus Heil, the social-democrat employment minister, unveiled a list of ten experts and social partner representatives who will form the new ‘retirement committee’. The group, which is set to begin its work from 6 June, is due to present, by 2020, an extensive reform plan for how German pensions are funded. The government’s programme states that the reform plan must be organised around three pillars – public, private and company pensions – in order to address the ageing of the population, in a sustainable manner, from 2025 onwards. Currently, pension funding in Germany is experiencing a period of calm, amid strong economic growth in the country and a high level of employment, which means pension funds have built up a reserve of some €30 million and have been able to reduce the contribution rate by 0.1 percentage points to 18.6%, from the start of this year. Pension levels are also due to increase by 3% from 1 July 2018. However, this period of grace does not appear set to last, as workers from the so-called ‘baby boomer’ age group are set to start departing the world of work.
on funds have built up a reserve of some €30 million and have been able to reduce the contribution rate by 0.1 percentage points to 18.6%, from the start of this year. Pension levels are also due to increase by 3% from 1 July 2018. However, this period of grace does not appear set to last, as workers from the so-called ‘baby boomer’ age group are set to start departing the world of work.
Italy/ Whistle-blowing a rare practice at big banks.The First trade union, a branch of the Cisl which deals with the banking sector, conducted a study of large banks’ non-financial reporting. It finds that instances of employees reporting illegal practices in the work place remain very rare.
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