German retirees will get an inflation-busting pension increase this year
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 24/04/2024 (597 days ago), so information in it may no longer be current.
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.