Pension is increased: Table shows how much more money there will be in 2023
Created: 12/29/2022 10:31 am
By: Sophia Lother
Pensions in Germany are expected to increase significantly once again.
But how much more money will it actually be for retired people?
An overview:
Kassel – With rising energy prices, life in Germany is also becoming more expensive.
Last but not least, pensioners notice this.
The desire for financial security is great.
In 2023, a pension increase is planned, which should offer people in retirement the same.
And other things will change for pensioners in 2023.
But how high should the increase for pensioners in Germany actually be, and how should pensions develop in the coming years, according to hna.de?
Pensioners in Germany can probably look forward to a significant increase.
(symbol photo) © Westend61/Imago
Pension increase in Germany 2023: There could be so much more money
At present, pensioners can expect a significant increase.
According to model calculations in the federal government’s 2022 pension insurance report, pensions in
western Germany
are expected to increase by around
3.5 percent
.
In the
east
of the country even by
4.2 percent
.
According to the federal government, there can only be clarity about the exact amount in the spring.
Because before that, the data on wage developments would have to be awaited.
And when is the increase planned?
As of now, it is expected that the pension increase will take effect from July 2023.
Retirees can then look forward to this pension plus:
Pensions in Germany are set to increase significantly in 2023: What will follow in the coming years?
According to the pension insurance report, pensions are expected to rise by a whopping 43 percent by 2036.
This results in an average rate of increase of 2.6 percent.
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The pension level should remain above 48 percent until 2024.
"The purchasing power of the pension is expressed in the pension level: it is a standard pension measured against the average salary of an employee," the federal government defines it.
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Criticism of the pension increase in Germany in 2023
“Pensions always lag behind wages by more than a year;
Therefore, in the event of sudden price increases and subsequent higher wage increases, it is not enough if pensions increase significantly by July 2023 or even 2024,” said DGB board member Anja Piel, according to the German Press Agency.
The Social Association Germany was also dissatisfied: "The increase in inflation must also be reflected in the adjustment of pensions," said SoVD CEO Michaela Engelmeier, according to dpa.
Therefore, the planned pension increase is not enough.
Meanwhile, retirement at 63 is becoming increasingly popular.
This can lead to further problems.
(Sophia Lother)
