Pension will increase more significantly than previously forecast. Pension adjustment is “above four percent for the third year in a row’ The pension increase in 20224 will be above inflation for the first time in two years.
Federal Labor and Social Affairs Minister Hubertus Heil called the pension increase “good news for pensioners” It is possible thanks to a strong labor market and good wage agreements, which are taken into account in the decision to adjust pensions. The statutory pension will become “permanent and, at the same time, with the generation capital, it will relieve the burden on future contributors”.. Pensioners will receive a significant pension increase from July 1st. A table shows how much more money they will receive from the Pension increase in summer 2024.. The pension will be stabilized through the reform of Pension Package II, which will ensure “that the young generation will also benefit from growth in the future,” emphasized the minister. It is the first nationwide increase 34 years after German unification.