Germanys

Germany’s Cabinet Approves 4.57% Increase in Retirees’ Pensions Amid Rising Wage Developments

Berlin, Germany (AP) — In a move to uplift retirees across the country, Germany’s Cabinet has approved a significant 4.57% increase in pensions starting this summer. This rise surpasses the current inflation rate, marking a positive development for more than 21 million retired individuals in Europe’s largest economy. The adjustment in German pensions is closely tied to wage trends, with recent salary negotiations in various sectors reflecting a rising demand for substantial pay raises to …

Read more

Pensions to be Revolutionized with Germany’s ‘Generation Capital’ Plan According to New Proposals

Berlin, Germany – With Germany’s baby boomers from the late 50s and 60s now reaching retirement age, the country faces a challenge of supporting an increasingly aging population while dealing with a shrinking workforce. The pension system, established in 1889, relies on a public retirement insurance scheme where contributions from the current workforce support the pensions of retirees – a system known as the “intergenerational contract.” In the 1960s, there were six workers for every …

Read more