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
Socialite Jasmine Hartin enjoys beach snuggle with electrician hunk
Socialite Jasmine Hartin has been seen enjoying a beach snuggle with her new mystery man.Ms Hartin w2024-05-21Adrien Brody debuts new blonde hair as he and glamorous girlfriend Georgina Chapman arrive to star
Adrien Brody and Georgina Chapman made a glamorous pair as they arrived to the star-studded 2024 Met2024-05-21Tom Selleck says he could lose 63
Tom Selleck says he could lose his 63-acre Ventura County, California ranch if CBS does not renew hi2024-05-21Billionaire oil heiress Ivy Getty puts on a VERY glamorous show on Met Gala red carpet
Billionaire oil heiress Ivy Getty embraced her newly-single status on Monday night when she stepped2024-05-21Student fatally shot, suspect detained at Georgia's Kennesaw State University
ATLANTA (AP) — Officials at Georgia’s Kennesaw State University say a student was killed in a weeken2024-05-21Hurricanes shut down on power play again, fall into 0
NEW YORK (AP) — The Carolina Hurricanes had the NHL’s second-best power play during the regular seas2024-05-21
atest comment