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Meaning of unemployment benefit II. What is it: made effective in Germany on January 1 2005 by the.

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Definition unemployment benefit II

UNEMPLOYMENT BENEFIT II title: unemployment benefit II (PY-DE) (SAP Library - Glossary)
UNEMPLOYMENT BENEFIT II category: Germany (PY-DE)
UNEMPLOYMENT BENEFIT II explained:

Unemployment benefit 2 (ALG II) is a social benefit law made effective in Germany on January 1 2005 by the unemployment office and social security. It provides benefits for people seeking employment. It is based on Hartz IV, the fourth law for modern services in the labor market, which came into force on January 1 2005. The law was passed on December 16 2003 by the Lower House of German Parliament (Bundestag) and on July 2004 by the Upper House of German Parliament (Bundesrat) with the votes of all the large parties, including the opposition party.

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