As of: February 9, 2024, 7:20 p.m
By: Marvin K. Hoffmann
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Pensions will rise again in 2024.
Exactly by what percentage is not yet clear.
Sample calculations show how much more money there could be.
Hamm – Every year, pensioners hope for a pension increase and are happy when it finally happens in July.
Pensions will also be adjusted in 2024 and will rise again.
The federal government's official estimate is currently 3.5 percent.
Pension experts and specialists even bring higher numbers into play.
Some even talk about 6 percent.
Soon there will be certainty.
In response to a wa.de
inquiry , the Federal Ministry of Labor and Social Affairs (BMAS) has
already decided when pensioners in Germany will finally receive notification of their increase and has named an important period.
It is currently not possible to say with certainty by what percentage the pension will increase on July 1, 2024.
Pensions are increased based on the statutory pension adjustment formula.
However, example calculations can already show how much more money there will be in 2024 - if the pension is ultimately increased by this percentage.
Pension increase in 2024 by 3.5 percent: This is how much more money pensioners would have
Let's assume the forecast of 3.5 percent.
Then the pensions after the pension increase in 2024 would look like this:
Current pension |
Pension increase of 3.5 percent |
New pension |
|---|---|---|
500.00 euros |
17.50 euros |
517.50 euros |
600.00 euros |
21.00 euros |
621.00 euros |
750.00 euros |
26.25 euros |
776.25 euros |
1,000.00 euros |
35.00 euros |
1035.00 euros |
1,200.00 euros |
42.00 euros |
1242.00 euros |
1,350.00 euros |
47.25 euros |
1397.25 euros |
1,500.00 euros |
52.50 euros |
1552.50 euros |
1,800.00 euros |
63.00 euros |
1863.00 euros |
2,000.00 euros |
70.00 euros |
2070.00 euros |
2,500.00 euros |
87.50 euros |
2587.50 euros |
3,000.00 euros |
105.00 euros |
3105.00 euros |
Pension increase in 2024 by 4.5 percent: This is how much more money pensioners would have
The arguments of pension experts who hope for a higher pension increase this year are based on the fact that pensions are based on wages.
If these increase, pensions also increase.
That was the case most recently - so maybe a little more than the estimated 3.5 percent will come out in 2024.
Of course, even 1 percent more would have a positive effect on the later pension amount.
This is what the pension would look like after a 4.5 percent increase:
Current pension |
Pension increase of 4.5 percent |
New pension |
|---|---|---|
500.00 euros |
22.50 euros |
522.50 euros |
600.00 euros |
27.00 euros |
627.00 euros |
750.00 euros |
33.75 euros |
783.75 euros |
1,000.00 euros |
45.00 euros |
1045.00 euros |
1,200.00 euros |
54.00 euros |
1254.00 euros |
1,350.00 euros |
58.50 euros |
1408.50 euros |
1,500.00 euros |
67.50 euros |
1567.50 euros |
1,800.00 euros |
81.00 euros |
1881.00 euros |
2,000.00 euros |
90.00 euros |
2090.00 euros |
2,500.00 euros |
112.50 euros |
2612.50 euros |
3,000.00 euros |
135.00 euros |
3135.00 euros |
Pension increase in 2024 by 5 percent: This is how much more money pensioners would have
Of course, more money is always good, but even more money is even better.
This example calculation shows how a pension increase of 5 percent would affect pensions in Germany, which vary on average:
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Current pension |
Pension increase by 5 percent |
New pension |
|---|---|---|
500.00 euros |
25.00 euros |
525.00 euros |
600.00 euros |
30.00 euros |
630.00 euros |
750.00 euros |
37.50 euros |
787.50 euros |
1,000.00 euros |
50.00 euros |
1050.00 euros |
1,200.00 euros |
60.00 euros |
1260.00 euros |
1,350.00 euros |
67.50 euros |
1417.50 euros |
1,500.00 euros |
75.00 euros |
1575.00 euros |
1,800.00 euros |
90.00 euros |
1890.00 euros |
2,000.00 euros |
100.00 euros |
2100.00 euros |
2,500.00 euros |
125.00 euros |
1625.00 euros |
3,000.00 euros |
150.00 euros |
3150.00 euros |
Pension increase in 2024 by 6 percent: This is how much more money pensioners would have
The pension increase will probably be lower than in 2023. But you are still allowed to dream.
So let's take a look at pensions if they increased by a full 6 percent in 2024:
Current pension |
Pension increase by 6 percent |
New pension |
|---|---|---|
500.00 euros |
30.00 euros |
530.00 euros |
600.00 euros |
36.00 euros |
636.00 euros |
750.00 euros |
45.00 euros |
795.00 euros |
1,000.00 euros |
60.00 euros |
1060.00 euros |
1,200.00 euros |
72.00 euros |
1272.00 euros |
1,350.00 euros |
81.00 euros |
1431.00 euros |
1,500.00 euros |
90.00 euros |
1590.00 euros |
1,800.00 euros |
108.00 euros |
1908.00 euros |
2,000.00 euros |
120.00 euros |
2120.00 euros |
2,500.00 euros |
150.00 euros |
2650.00 euros |
3,000.00 euros |
180.00 euros |
3180.00 euros |
With small pensions, even the small increases only bring a little more money into the account.
In addition, pensioners also have to struggle with the consequences of inflation.
What is really left over at the end of the month can sometimes be quite little.
In 2024, a discount has also increased.
Of course, every pension increase helps - so it's no wonder that many pensioners are waiting in anticipation to see how high it will actually be.