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ROUNDUP 2 / Kreis: Pensions are expected to rise by up to 5.9 percent

Tuesday, 11/02/2021 7:39 PM from

dpa-AFX

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BERLIN (dpa-AFX) – The around 21 million pensioners in Germany can expect a sharp increase in their salaries in the coming year. According to official estimates, pensions in western Germany will rise by 5.2 percent and in the east by 5.9 percent in July, according to information from the German Press Agency from the draft pension insurance report 2021. The German pension insurance wants to inform the public this Wednesday about the financial forecasts.

But the tense retirement times expected with the baby boomer cohorts retiring can already be outlined. According to the draft report, the pension will lose security: “In the longer term, the security level will drop over 47.6 percent in 2030 to 45.7 percent at the end of the forecast period in 2035.” According to the preliminary calculation, the contribution rate should remain stable at the current value of 18.6 percent until 2023. It is expected to rise to 22.3 percent by 2035.

Because of the expected pressure on the pension fund, economists rushed again with the call for a higher retirement age. From 2031, this should be linked to the development of further life expectancy, according to a study by the scientific advisory board of the Marktwirtschaft foundation, the Kronberger Kreis. Raising the retirement age to 67 is not enough. In the ongoing coalition negotiations, however, the demand has little chance – the SPD, for example, is against it./bw/DP/he

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