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Social security in Germany is codified on the Sozialgesetzbuch (SGB), or the "Social Code", contains 12 main parts, including the following, Unemployment insurance and public employment agencies (SGB II [ 1 ] and III [ 2 ] )
The German pension system, known as the "public retirement insurance," was established over 100 years ago by Chancellor Bismarck, making it the world's first formal pension system. It has been successful in providing a high and reliable level of retirement income and has served as a model for numerous social security systems globally. [1]
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In January 1995, the government of Helmut Kohl introduced the Social Law XI 1, the German long term care insurance. It is an independent part of the social security in Germany, in the Sozialgesetzbuch and provides financial provision for the risk of care necessity. Long-term care insurance was introduced as the fifth pillar of social insurance ...
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