Pensions

German pensions to rise

Around a quarter of the German is receiving a pension. The more than 20 million pensioners can now look forward. From the first of July, their salaries will rise as strong as long no longer.

It is the largest increase in 23 years: The remuneration of the 20.6 million pensioners in Germany to rise to 1. July in the West of Germany to 4.25 per cent and in the East, to 5.95 percent – the German Federal labour Minister Andrea Nahles.

For the raising there are several reasons for this. A Central role of the good employment situation and increased income. But there is also a special effect. Last year the pension increase was due to a Change in the calculation basis, by around one percentage point lower. This will now be balanced in a unique effect.

Federal social Minister Andrea Nahles (SPD) said: “The pensioners benefit immediately from the good situation on the labour market, the growth of the economy and rising wages.” The PAYG pension is built on proven, especially in times of low interest rates, good news. Increased pensions have no impact on the contribution rate. This will remain in the coming years, continue to 18.7 percent.

In the past year, the pensions in the West rose by 2.1 per cent and in the East by 2.5 percent.

The CDU-pension expert Peter White said, economically successful times are also successful times for the pensioners. The still greater increase of the pensions in the new länder would lead to further approximation of the pensions in the East and the West. According to the Ministry of labour, pensions are in the East now at 94.1 percent of the pension value in the West. So far, there were 92.6 percent.

nm/bea (rtr, dpa, afp)