Status: 11/05/2022 7:58 p.m
Pensions are also expected to rise next year, albeit not quite as much as this year. Minister of Labor Heil also announced a pension reform.
Pensions in Germany are expected to rise further next summer. This emerges from the new pension insurance report ARD Capital Studio present. The “Bild am Sonntag” (BamS) reported first.
Accordingly, as of July 1, 2023, pensions in the west are to rise by 3.5 percent and in the east by 4.2 percent. “According to the data now available, pensioners can again expect a noticeable increase in pensions in the summer,” said Labor Minister Hubertus Heil of “BamS”. Pensions had increased by more than five percent this year.
The contribution rate should remain stable at 18.6 percent until 2026. In 2027 it should rise to 19.3 percent and by 2030 to 20.2 percent. According to the newspaper, Heil said that, contrary to many forecasts, it was possible to keep the contribution rate stable for longer than expected. This is good news, especially in the current cost crisis, “that working people can rely on the fact that the contribution rate will not increase”.
New pension reform announced
The pension level is currently slightly over 48 percent. Legal limits apply until 2025, according to which the pension level must be at least 48 percent and the contribution must not exceed 20 percent.
Minister Heil announced the next pension reform for the time after that: “Next, we will take care of keeping the pension level stable in the long term, well beyond 2026. We will also pay attention to the development of contributions,” he said according to BamS.