Pension: Whole increase on July 1st - but not all pensioners receive more money directly
Created: 06/10/2022 11:19 am
By: Patricia Huber
From July 1st there will be more money for pensioners.
But some retirees have to wait longer than others when the higher pension is paid out.
Munich – Pension payments will increase on the first of July.
From next month, pensioners in the West can look forward to 5.35 percent and pensioners in the East 6.12 percent more pension.
Federal Labor Minister Hubertus Heil explained that the significant pension adjustment was good news for the people "who had kept the shop running for years through their work".
Especially in view of the rising prices and the international crisis situation, it is important to see that "our pension system works," said Heil.
Pension: The timing of the increase is not the same for everyone
So a pretty substantial increase is waiting for Germany's retirees.
But beware: Not every pensioner will receive more money on July 1st than in the past few months.
When the pension increase takes effect depends on an individual factor.
The start of retirement plays a key role here.
The German Pension Insurance Association in Berlin is now pointing this out.
Those who received their pension by March 2004 will already receive the adjusted pension at the end of June.
If the pension began in April 2004 or later, the plus will not be in the account until the end of July.
The reason: Some of the pensioners get their pension as an advance payment at the end of the previous month, the other part only at the end of the current month.
Payment is automatic.
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Pension: Notice provides information on how much more money there is
However, pensioners find out early on how much more money there is.
For this purpose, the German pension insurance sends a so-called pension adjustment notification.
From this it can also be seen when the pension will be paid out.
According to the Deutsche Rentenversicherung, shipping begins on June 10th.
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Anyone who receives the higher pension at the end of June will also receive the pension adjustment notification earlier, by June 27 at the latest.
(ph)
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