What is 'German Act to Strengthen Company Pensions' in SAP ORG-LX-T9N - Team: Corporate Translation?

German Act to Strengthen Company Pensions - Overview

• Component: ORG-LX-T9N

• Component Name: Team: Corporate Translation

• Description: A German tax and social reform package approved by the German Bundestag on June 1, 2017, aimed at reforming and improving the availability of occupational retirement pensions. The new act will enter into force on January 1, 2018.

German Act to Strengthen Company Pensions - Details

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  Key Concepts: 
  The German Act to Strengthen Company Pensions (Betriebsrentengesetz, or BetrRentG) is a law that was passed in Germany in 2001. It is designed to strengthen the pension system for employees of companies in Germany. The law requires companies to provide a minimum level of pension benefits for their employees, and it also sets out rules for how those benefits are calculated and paid out. 
  
  How to use it: 
  The BetrRentG applies to all companies in Germany that have at least five employees and offer a pension plan. Companies must comply with the law by providing a minimum level of pension benefits for their employees, and they must also follow the rules set out in the law for calculating and paying out those benefits. 
  
  Tips & Tricks: 
  It is important for companies to understand the requirements of the BetrRentG and ensure that they are compliant with the law. Companies should also be aware of any changes to the law that may affect their pension plans. 
  
  Related Information: 
  The German Federal Ministry of Labour and Social Affairs provides information about the BetrRentG on its website, including details about the requirements of the law and any changes that have been made to it. Companies can also consult with legal advisors or other experts to ensure that they are compliant with the law.