The Austrian

As well, the labor reform has been limited to give a period of a year to the Government to bring forward a Bill through that, no increase in corporate contributions, regulate the establishment of a Fund for capitalization for the workers maintained throughout his working life, by an amount equivalent to a number of days of salary per year of service to determine. The Austrian model involves the creation of a Fund for each worker that will make the functions of piggy bank, which will increase with contributions that to that Fund are doing throughout the working life of each worker. The idea is that this Fund is not lost by the mere fact that workers change jobs and that this can resort to their savings in case of dismissal, geographical mobility, the development of training activities or at the time of his retirement, in the event that you have a positive balance in your particular background. The mention in the regulation itself that may not increase quotas of enterprises suggests that o well will be allocated to this fund all or part of the contributions which is come done at present by the company the FOGASA, either that these contributions will be distributed between the enterprise and the worker. In any case, Royal Decree Law has imposed on January 1, 2012 as the deadline for the operation of this Fund. In summary, cannot ignore that we we have a reform that has to be understood in the context of the pressure that the European partners have exercised over our rulers, since the final reform shall be submitted to a parliamentary debate through the procedure of Bill, during which parties have already announced their intention to include amendments to the text of the legal reform that enters into force on June 18, 2010. Antonio Torralba Mariscal & Asociados, Abogados member of Eurojuris Spain original author and source of the article