The German Social Security System

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The German Social Security System

In contrast to some other industrialized countries, the core social security in Germany is financed collectively by means of a process of redistribution. The current costs (for pensioners, sick people or those in need of nursing care, and unemployed people) are paid directly from contributions by employees and employers.


Components of Social Security Insurance

Social security contributions are made up of:

  • Health insurance
  • Nursing care insurance
  • Pension insurance
  • Unemployment insurance
  • Accident insurance

Generally speaking, social security contributions are roughly shared equally by employer and employee. Only the costs for accident insurance are exclusively borne by the employer. In total, the employer’s share of social insurance contributions amounts to approximately 21% of the employees gross wage.

 

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