As of: February 11, 2024, 6:17 a.m
By: Fabian Hartmann
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Anyone who receives pension, civil or child benefit will have to be patient this February.
The amounts will be paid out a little later than usual.
Frankfurt - Especially now at the beginning of the year, when year-end accounts and other payments need to be paid, it could cause particular problems for some pension, citizen or child benefit recipients: In February, the payments of pension, citizen's benefit and child benefit will reach the affected people later than otherwise.
According to current figures, around 40 percent of pensioners in Germany receive less than 1,250 euros per month.
A postponed payment date can quickly lead to financial hardship for many pensioners.
With a pension of 1250 euros, money is often tight at the end of the month anyway.
If it comes later than usual, this could force many pensioners to tighten their already tight belts even more.
Later payment of child and citizen benefit – why is it delayed in February?
The reason for the delay in payment in February, which is probably unpleasant for many, is that 2024 is a leap year.
Accordingly, February counts one more day this year instead of its usual 28 days.
Because pension, citizen and child benefit payments are always made on the last working day of the month and February 29th falls on a weekday with a Thursday, the payments in February of this year will take place on the 29th.
Because citizen's money is always transferred to the accounts of its recipients in advance, i.e. on the last banking day of the previous month, the citizen's money payment for the month of March is affected by the later payment date due to this year's leap year.
Why do leap years even exist?
The fact that February 2024 has a total of 29 days instead of 28 goes back to the draft of the Gregorian calendar from the 16th century.
The year length of 365 days measured in the calendar does not exactly correspond to the actual length of time that the earth orbits the sun.
The Earth specifically needs 365 days, five hours, 48 minutes and 46 seconds to do this.
In order to compensate for the missing six hours, a leap year was introduced every four years during the time of Julius Caesar.
Delayed pension payment – when will the pension be in the bank account in February?
According to the German Pension Insurance, the pension is always paid out to its recipients on the last banking day of the month.
Due to this year's leap year, the payment date for pension benefits is also February 29th.
As pension consultant Peter Knöppel from
rentenbescheid24.de
explains, this is the payday for statutory pensions.
Pensioners taking a walk © IMAGO/Michael Gstettenbauer
This includes, on the one hand, the pensions paid in arrears with a pension start date after April 2004 for the pension month of February 2024. On the other hand, the pensions paid in advance with a pension start date before April 2004 for the pension month of March 2024 also fall on the last day of the month on February 29th.
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Pensions, citizen’s benefit, child benefit – these changes will affect consumers in 2024
In addition to a later pension payment in February, retirees have to prepare for a few other changes this year.
While after a decision by the traffic light coalition
A pension subsidy was canceled in mid-December, the planned pension increase from July 1, 2024 is not in danger.
In addition, since the beginning of the year, everyone who will retire in 2024 will have to pay tax on a higher pension share.
Specifically, this means that the taxable pension share has been 84 percent since January 1st of this year, instead of the previous 83 percent.
This means that only 16 percent of the first full gross annual pension remains tax-free this year.
In addition, the contribution assessment limit for pension insurance will increase this year.
Instead of 7,300 euros, from January it will be 7,550 euros (old federal states) or 7,450 euros (new federal states) per month.
A lot has also happened when it comes to citizens' money since January 1, 2024.
Since then, single beneficiaries now receive 563 euros instead of 502 euros per month, i.e. 61 euros more per month.
Couples receive a total of 55 euros more per partner at 506 euros instead of 451 euros.
When it comes to child benefit, there are fewer innovations in 2024 and more important news to announce for the coming year.
From 2025, the new basic child benefit will replace the current child benefit.
(
Fabian Hartmann)