Pensioners get more money from summer onwards
The pensions rise significantly in July, mainly because of the positive wage development. This also affects the differences between West and East Germany.
Dhe pensions rise noticeably in summer. In western Germany they increased by 3.18 percent on July 1, in the east by as much as 3.91 percent. The federal cabinet approved a corresponding ordinance from the Ministry of Social Affairs on Tuesday. A monthly pension of 1000 euros, which is only based on contributions from the West, increases by EUR 31.80, and the same pension with contributions from the East increases by EUR 39.10. Minister of Social Affairs Hubertus Heil spoke of an “extremely positive development in pensions”.
At the same time, the eastern pensions are getting closer to the western references. The pension value in the east rises to 96.5 percent of the west value. By 2024, it will gradually increase to 100 percent due to a legal requirement from 2017. The pension value specifies in euros how much one earnings point in the pension insurance is worth. One earnings point is calculated using a complicated formula and is decisive for the amount of the pension.
The pension level increases slightly to 48.16 percent. As the ratio of the pension to the average wage, it provides information about the safeguarding power of the pension. The automatic pension increase is mainly due to the positive wage development.
The social policy spokesman for the CDU / CSU parliamentary group, Peter Weiß, said of the increase: “Again it is evident that the pension insurance is on a very solid basis and that people who receive pensions also benefit from the good economic and labor market policies of the CDU and CSU. Also because the number of contributors has continued to increase, pensions can rise significantly this year. “