Average pension in Germany: Current figures and facts for financial experts

Average pension in Germany: Current figures and facts for financial experts

According to a report by www.hna.de, the average pension in Germany varies not only between the genders, but also between the federal states. According to the German Pension Insurance Pension Atlas 2023, the average gross pension in Germany is 1,550 euros, although there is a variance of more than 200 euros between the federal states. Men receive an average of 1,728 euros, while women receive an average of 1,316 euros. This shows that there are still significant gender gaps in the pension system. While the retirement age for old-age pensions has become equal, there are still differences in the retirement age for disability pensions. Furthermore, the pension forecast for the coming year will increase by around 3.5%, which could have positive effects on consumption and the economy. However, statistics from the Federal Statistical Office also indicate that an increasing number of pensioners are affected by poverty in old age, which could place an increasing burden on the social system. These factors could have an impact on private consumption, poverty in old age and the burden on the social system and must be taken into account in future financial planning. Pension developments therefore have significant implications for the financial sector and the entire market.