Characterised by self-administration
In their current form, however, social insurance schemes are not purely a state
matter but are instead characterised by self-administration, i.e. Significant (joint)
decision-making powers by employer associations and labour unions. This
encourages social harmony and makes it easier to take economic concerns into
account. As a result, these social systems have repeatedly proven to be
adaptable.
Unlike just 15 years ago today’s social insurance schemes no longer offer
extensive benefits packages similar to fully comprehensive insurance as this
proved to be financially unsupportable due to globalisation and demographic
change. Instead, citizens are required to take out additional insurance
themselves.
EU Forecast
euf:b.a18b:138/nws-01