Increase your pension with one application - This is how the recognition of child-rearing periods works.

Increase your pension with one application - This is how the recognition of child-rearing periods works.

According to a report from t-online.de, there is a simple way to increase your statutory pension - with just one application. By recognizing child-rearing periods, up to 110 euros more per month can be achieved. Upon request, the pension insurance will credit you for raising your children as if you had paid your own pension contributions during this time. This means that for one year of raising children, just under one pension point will be credited, which currently brings you 37.60 euros in pension per month (as of January 2024).

This option can have a positive impact on the market and the financial industry as it allows retirees to receive higher monthly payments. This could result in pensioners having more money at their disposal, which they can then put into consumption or investments. This could also stimulate the economy as a whole.

In addition, the effects on the pension insurance itself could also become apparent. With the increasing number of applications for the recognition of child-rearing periods, the pension insurance could face challenges in administration and financing. It is therefore important that the pension insurance responds appropriately to these developments and prepares for them.