Pension increase 2024: Pensioners will receive 4.57 percent more from July

Pension increase 2024: Pensioners will receive 4.57 percent more from July

The pension increase in summer 2024 brings good news for pensioners. From July 1st, the pension will increase by 4.57 percent, which corresponds to a significant increase compared to inflation in recent years. This pension adjustment is above four percent for the third year in a row and is above inflation for the first time in two years. The nationwide pension adjustment marks a milestone and emphasizes the equal value of work in East and West.

Federal Labor and Social Affairs Minister Hubertus Heil describes the pension increase as positive, which is made possible by a stable labor market and good wage agreements. The future of pensions is secured with the new Pension Package II in order to ensure long-term stable retirement benefits and to relieve the burden on future contributors. Stable pensions are crucial for the social market economy and social peace.

Despite the positive development, there is also criticism of the pension increase in 2024. Some voices see the pension development as inadequate, especially due to the increased loss of purchasing power in recent years. Debates about allegedly rising pensions too much are viewed as inappropriate since many pensioners are already confronted with restrictions.

The pension increase in summer 2024 will not be paid out at the same time for all pensioners. Pensioners who applied for their old-age pension after April 2004 will not receive the pension increase from the pension increase retroactively until July 31, 2024. This affects all pensioners in Germany, regardless of the amount of the pension.