Germany equalizes the pensions of the East and the West and raises them to 5.8 percent

Author: CLEMENS BILAN | EFE

It closes a long-standing advantage gap

Alignment of old-age pensions with which finally equalize benefits which are perceived in the west of the country and in the mainland parts of the defunct German Democratic Republic (GDR) came into effect this Saturday in Germany.

In the western province, pensions have increased by 4.39 percent since yesterday Easterners 5.86%which finally achieved a total equalization.

one year in advance

The German executive pointed out that the tie it was completed a year before the planned deadline. The average pension was 1,022 euros gross per month in 2021, according to statistics from the German Pension Insurance (DRV), although with large differences between men and women and between different regions.

“Rising wages and the strength of the labor market in Germany make this increase possible,” Labor Minister Hubertus Heil, a Social Democrat, said of the adjustment that took effect this Saturday.

Until now, the pensions of approximately 21 million pensioners in Germany were calculated differently depending on whether a person paid contributions in the old west or the old east, although a gradual adjustment process began after the 2018 reform.

Source: La Vozde Galicia

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Jason

I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people's lives. I also write about current trends in economics, business strategies and investments.

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