Pensioners will receive more money from the summer.
This was surprisingly announced by the Federal Ministry of Labor on Monday.
Ottawa – Pensioners will receive more money from the summer.
As of July 1, pensions in western Germany will rise by 4.39 percent and in the new federal states by 5.86 percent, Federal Labor Minister Hubertus Heil announced on Monday during a visit to Canada.
With the planned increase, the current pension value will then be the same in West and East.
Due to the higher wage increase in the east, the east pension adjustment will be achieved a year earlier than legally stipulated.
A smaller increase was expected in December.
Retirees: With the planned increase, retirees in East and West will receive the same benefits from July for the first time.
© Imago/Michael Gstettenbauer
The basis for the pension increase that has now been announced is the data now available from the Federal Statistical Office and the German Pension Insurance Association.
The table below shows the increase in West and East:
The labor market is in "good shape and wages are rising," said Heil in Ottawa.
The security level thus remains stable at over 48 percent.
Pension: High inflation is particularly difficult for those receiving small pensions
The high inflation is particularly difficult for people receiving small pensions.
In February, consumer prices rose by 8.7 percent compared to the same month last year.
"The pension adjustment is currently lagging behind inflation, but that is only a snapshot," said a statement from the Federal Ministry of Labor.
The principle that pensions follow wages has proven itself with regard to the income development of pensioners.
Editor's note: A reader pointed out to us that there was a calculation error in the data on pension levels in eastern Germany in the first version of the table. We apologize for this error and have corrected the data accordingly.
Editor's note: A reader pointed out to us that there was a calculation error in the data on pension levels in eastern Germany in the first version of the table.
We apologize for this error and have corrected the data accordingly.
List of rubrics: © Imago/Michael Gstettenbauer