Pensioners will be hit by German plans to cut subsidies

Author (Person)
Series Title
Series Details 30.5.03, p6
Publication Date 30/05/2003
Content Type

Germany's pensioners will see their disposable income fall under drastic government plans to slash EUR5bn off state subsidies to the mandatory retirement savings system. The plan by Hans Eichel, Germany's Finance Minister, to use the cuts to make good a third of the projected EUR15bn shortfall in the 2004 budget are the latest sign of the government's determination to make significant cuts in Germany's social welfare system.

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