German retirees will get an inflation
BERLIN (AP) — Germany’s Cabinet on Wednesday approved a 4.57% rise in retirees’ pensions from this summer, well above the current rate of inflation.
Rises in German pensions are linked largely to wage developments. Although inflation has subsided over the past year, the outcome of recent salary negotiations in various sectors has reflected demands for hefty pay rises following a big increase in living costs.
The increase will take effect on July 1, the first time since 2000 that pensions in Europe’s biggest economy have risen by more than the annual inflation rate, which in March stood at 2.2%, German news agency dpa reported.
An increase last year of 4.39% in the former West Germany and 5.86% in the less prosperous and formerly communist east completed efforts to bring pensions in the two parts of the once-divided country level more than 30 years after reunification.
Germany has a population of 84 million, including more than 21 million retirees.
Related articles
- A small group of NFL rookies from the 2024 class, including Caleb Williams and Drake Maye, sat down2024-05-21
Here's everything that could go wrong with your jam, Meghan…and my tips to make sure it doesn't
Gosh, Meghan, you and I have so much in common! We even use the same hexagonal jam jars for our — wh2024-05-21OJ Simpson was chilling with a beer on a couch before Easter, lawyer says
LAS VEGAS (AP) — O.J. Simpson’s last robust discussion with his longtime lawyer was just before East2024-05-21Nigel Farage teases 'very big decision' on returning to frontline politics 'in the next few weeks'
Nigel Farage today teased a 'very big decision' on returning to frontline politics 'in the next few2024-05-21Candice Swanepoel stuns in a form
Candice Swanepoel looked incredible as she arrived at the 77th annual Cannes Film Festival premiere2024-05-21How much of England's motorway network has no hard shoulder? This map reveals all...
This week, motoring groups have called for the current - and next - government to take further actio2024-05-21
atest comment