Good news at last in times of the corona virus: pensions will rise significantly in summer 2020. There are percentage differences in the east and west.
- Pensions will be increased in summer 2020.
- There is more money for pensioners than initially expected.
- The increase is different in the east and west of the country.
Not a day goes by without new reports on the corona virus . The topic polarizes around the world and causes great fear. Many also have concerns about their own money, because it is not yet clear what impact the current situation will have on the German economy.
In the midst of all this concern, there is now at least a small consolation: pensions will rise all over Germany in summer 2020.
Pension increase in summer 2020 - so much money is added
Information on the pension increase * from July 1, 2020 could already be found in the 2019 pension insurance report. This called an increase of 3.15 percent in western Germany and 3.92 percent in eastern Germany. That is already a decent plus, but in fact it should be even more: As the BILD newspaper reports, there is 3.45 percent in the West on top, while pensioners in the East can look forward to an increase of 4.20 percent .
Converted, this means that people who receive € 1,000 annually * receive € 34.50 more in the West and € 42 more in the East.
Also read : This is why there is a new net amount on your 2020 pay slip.
Pensions in the east continue to converge with those in the west
With 45 years of insurance, the average pension from summer 2020 is 1538.55 euros in the west and 1495.35 euros in the east. They will increase by 51.30 euros in western Germany and 60.30 euros in eastern Germany.
The announcement is accompanied by another encouraging development: in the east, pensions continue to adjust to the level of the west. As of July 1, 2020, the pension value in eastern Germany will be 97.2 percent of the value in the west . This means that it increases by 0.7 percent.
That is why the pension increase is so gratifying
At the request of BILD, a spokesman for the Ministry of Labor reveals that the pension increase is linked to last year's wage developments. The latter was very positive. However, the Corona crisis * is causing concerns about an increase in pensions in 2021 , as the pandemic's impact on the economy and wages is not yet in sight.
Also interesting : woman (60) is completely shocked - when she learns how much pension she will get later.
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* merkur.de is part of the nationwide central Ippen editorial network.
List of rubric lists: © picture alliance / Patrick Seeger / dpa
