All of the approximately 21 million pensioners in Germany get to 1. July more money. The pension increase will not, however, be made to all pensioners at the same time, the German pension insurance Federal States in Berlin.

The time of Retirement decides

• Who got before or in March, 2004 for the first time, pension, receives the adjusted pension already at the end of June 2020 .
• Has started, the pension is in April 2004 or later , the Supplement only end of July on the account. But no one must be active: The payment is made automatically.

In the old länder, the pensions increase on 1. July 3,45 per cent, in the new länder is equal to 4,20 percent. The current value of a pension increase in Western Germany with a height of 34.19 Euro, in the East on the 33.23 euros. So far, the values are 33,05 Euro in the West and 31,89 Euro in the East.

That pensioners benefit in the new Federal länder, has a good reason: by 2025, the pensions should be in the East and the West on the same level. Therefore, Ostrenten be raised each year, to reduce the size of the gap. The current pension value (East) is at 1. July, at 97.2 per cent of the current pension value in the West.

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Higher wages lead to a pension increase

The pension adjustment by July 2020 , the Federal Cabinet had decided in April 2020. The basis for the increase in pension the development of the gross fees of the compulsory contribution of employees in the previous year. Wages rose significantly, the pension climbs according to Everything you can about your pension

Our PDF guide explains on 100 pages the answers to all the important questions around the topic of retirement. need to know Plus 58 Pages Of Forms.

PDF guide

conversely, to Stagnate, the average income of workers, there is no increase in pension benefits. This was in the year 2010. Reason, the after-effects of the world financial crisis from the year 2008, at that time. So much money you get at the age click Here for pensions calculator

Corona-crisis could prevent 2021 pension increase in

First, experts predict that as a result of the Corona-crisis and the millions-strong army of Kurarbeitern also 2020, the wage sum is expected to stagnate. The consequence would be, that in the coming year, the pensioners go out empty. However, the laws rules that pensions may not be reduced. This security retirees enjoy.

Significant pension increases can cons can bring

of Course, every pensioner is happy about higher remuneration. However, an increase in pension benefits also leads every year to more and more retirees tax obligation.

the following applies: the later the retirement, the higher of the taxable portion of the retirement pension. At the time of retirement in the year 2020, the rate is 80 percent. 2021, rising to 81 per cent. The tax rate on life-time.

However, to get many of the pensioners for the Treasury nothing: the annual pension under the basic tax-free allowance of currently 9408 Euro, the Minister of Finance will be empty.

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Date Of Update: 02 June 2020, 10:27