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.
I was 'brokefished' by my friend for £400
Why Kate Middleton waited to announce her cancer diagnosis
Back to Black film: Does Marisa Abela sing her own songs in the Amy Winehouse biopic?
Philippines blames China for loss of giant clams in disputed shoal and urges environmental inquiry
Dog severely burned and abandoned by owner in San Bernardino
Masterful meals: Roast pheasant with a chestnut and cider cream sauce
Camilla wore very rare brooch to Easter Sunday service in touching nod to her mother
The fightback begins: Boss of London's Queen Mary University tells pro
Queen Camilla, Princess Anne and Sarah Ferguson all don traditional spring shade
Cruise worker 'murders newborn son on board ship': Shocked co
JENNI MURRAY: The Cass Report is a voice of reason on trans dogma that must not be ignored