Millions of pensioners can expect significantly higher retirement benefits from July 2022. In the west, the amounts climb by 5.35 percent, in the new federal states by as much as 6.12 percent. This means that anyone who currently receives a gross pension of EUR 1,000 in the west will receive EUR 53.50 more from July. Here is an overview of all pension increases.
The coming increase in pensions fills many retirees with joy. The annual pension increase had failed in 2021 – a consequence of the economic burden of the Corona crisis. In addition, pensioners are also suffering from the current high inflation and rising prices for energy, food and many other products.
The increase in pensions is higher than actually expected. At the end of 2021, the responsible Federal Minister of Labor Hubertus Heil (SPD) promised an increase of 4.4 percent. The recently announced actual increases mean the highest pension increase since 1983. The reason for this is the high increase in wages last year. Because the general wage development is the basis for the adjustment of pension payments.
Currently, a so-called pension point in the old federal states brings a pension of 34.19 euros per month. From July, the value will increase to EUR 36.02. The jump is even bigger in the new federal states: Here the value of a pension point increases from the current 33.47 euros to 35.52 euros. Employees who receive exactly the so-called average salary of all pension insured persons receive a pension point. The amount in 2022 is 38,901 euros. In the previous year, the value was still 41,541 euros. The reason for this decline is the economic burden of the Corona crisis.
Tip: Those who want to retire earlier and want to compensate for the impending loss of old-age benefits with voluntary pension payments will be able to get away much cheaper this year than in 2021. The reason is the lower average salary, on the basis of which the extra payments to the pension fund are calculated.
But even those who do not make any extra payments can expect significantly higher retirement benefits from the summer.
The FOCUS Online Guide answers all important questions about pensions on 135 pages. Plus 65 pages of forms.
The following table lists the pension increases for West and East for selected amounts:
However, the lavish pension increases have one negative aspect: More and more retirees are collecting such high pensions that they are subject to income tax. Those affected should find out how they can lower their salaries so that the tax authorities do not collect too much.