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Pension will soon rise by an average of 70 euros – but only for certain groups

2023-06-07T09:54:13.775Z

Highlights: From July 1, 2024, the time has come: Then there will finally be improvements for millions of disability pensioners. Your pension will then increase by 7.5 or 4.5 percent. The aim is to improve the situation of more than one million people with reduced earning capacity who received their first early retirement before 2019. According to the federal government, about three million pensions are expected to benefit from the increase. The increase could reduce the number of people at risk of poverty by two percentage points from July 2024.



From July 1, 2024, the time has come: Then there will finally be improvements for millions of disability pensioners. Your pension will then increase by 7.5 or 4.5 percent. An overview.

Berlin – Those who receive a disability pension are more likely to be at risk of poverty in Germany than the rest of the population. This is because these pensions are often lower on average than an average statutory pension after a long period of employment.

Long-term disability pension increases by an average of 70 euros

For this reason, the Bundestag passed the "Act on Pension Adjustment and on the Improvement of Benefits for the Disability Pension Inventory" a year ago. The aim is to improve the situation of more than one million people with reduced earning capacity who received their first early retirement before 2019. The increases will start on July 1, 2024.

From 1 July 2024, there will finally be improvements for millions of pensioners with reduced earning capacity. (Symbolic image) © IMAGO/ Wolfgang Maria Weber

For those who started to receive a disability pension between 2001 and 2014, the pension supplement is then 7.5 percent. According to the current data from the German Pension Insurance, this corresponds to an average of about 70 euros more pension per month, reports ihre-vorsorge.de. People who received a disability pension between July 2014 and December 2018 will receive a supplement of 4.5 percent – an average of 40 euros more.

Disability pension to be increased: Three million pensions will benefit

"It can therefore be assumed that in the future, fewer pensioners than before will be dependent on basic security in addition to their pensions," ihre-vorsorge.de quotes pension experts Teresa Nawarra and Christoph Schnell from the German Pension Insurance (DRV) Bund.

In addition, a study by the German Institute for Economic Research in Berlin suggests that the increase in the disability pension could reduce the number of people at risk of poverty by two percentage points from July 2024. According to the federal government, about three million pensions are expected to benefit from the increase.

Source: merkur

All news articles on 2023-06-07

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