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A pensioner and a pensioner in the Duisburg-Nord landscape park
Photo: Caroline Seidel / DPA
According to its own statements, the German pension insurance has come through the corona crisis well financially so far.
In the first eight months of the current year, premium income increased slightly by 0.7 percent compared to the previous year, a spokesman said on Friday.
The pension insurance expects the information for this year with income in the amount of 223 billion euros.
In 2019 they were 222 billion euros.
"In view of the general economic conditions, which have deteriorated significantly as a result of the corona crisis, this is positive news for pension insurance," said Gundula Roßbach, President of the German Pension Insurance Association.
One of the reasons is that pension contributions continue to be paid even with short-time working and when receiving unemployment benefit I.
This ensures that there is continuous coverage in the pension insurance during these times.
The financial reserve of the pension fund - the so-called sustainability reserve, which is used to compensate for fluctuations in contributions during the year - was reportedly at 35.7 billion euros at the end of August.
That corresponds to 1.51 monthly expenses.
At the end of 2019 it was still around 40.5 billion euros.
However, the reserve will also be reduced as planned in order to keep the contribution rate stable until 2024.
No change to the pension adjustment
How the positive development will affect the next pension adjustment in the coming summer is not yet foreseeable.
At the end of June, the pension insurance announced that there would probably be no increase in the west and only a small increase in the east in 2021.
This statement will remain for the time being, said a spokesman on Friday.
As always, the final decision will be made in spring.
The annual adjustment is determined by the federal government by ordinance.
The Federal Council must agree.
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