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Thursday, March 30, 2023

Social: Head of pension insurance: “Pension is and will remain stable”

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Pensioners in Germany can look forward to an increase in their payments. The pension fund has a surplus in the billions and is benefiting from the good wage development.

This is good news for the 21 million pensioners in the country: According to the President of the German pension insurance, Gundula Roßbach, the pension fund is posting increasing income and even had a surplus of 3.4 billion euros last year. “The cash position looks very good,” said Roßbach of “Bild am Sonntag”.

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According to them, the annual pension adjustment will “probably be decent” this summer as well. According to forecasts from the autumn, there could be around 3.5 percent more in the west and a good 4.2 percent in the east. Last year it was an increase of 5.35 percent in the west and 6.12 percent in the east. The official pension adjustment on July 1st will be decided shortly. This happens every spring.

Pension contributions will remain stable until 2026

“The previous collective agreements also give an idea that senior citizens can hope for a pension supplement in the coming years,” said Roßbach. The pension increases depend on the wage development in the country.

“The numbers prove: The pension is stable and will remain stable,” said Roßbach. She cited the increasing number of immigrants and life expectancy as reasons for the development. According to the current calculations of the Federal Statistical Office, this will increase less sharply in the future than previously expected.

According to them, pension contributions will remain stable until 2026. After that, an increase is expected. Federal Minister of Labor Hubertus Heil (SPD) had assured that the contribution rate would not increase rapidly even after the expiry of the upper limit applicable until 2025 and spoke of a slight increase.

Source: Stern

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