German retirees will get an inflation
BERLIN (AP) — Germany’s Cabinet on Wednesday approved a 4.57% rise in retirees’ pensions from this summer, well above the current rate of inflation.
Rises in German pensions are linked largely to wage developments. Although inflation has subsided over the past year, the outcome of recent salary negotiations in various sectors has reflected demands for hefty pay rises following a big increase in living costs.
The increase will take effect on July 1, the first time since 2000 that pensions in Europe’s biggest economy have risen by more than the annual inflation rate, which in March stood at 2.2%, German news agency dpa reported.
An increase last year of 4.39% in the former West Germany and 5.86% in the less prosperous and formerly communist east completed efforts to bring pensions in the two parts of the once-divided country level more than 30 years after reunification.
Germany has a population of 84 million, including more than 21 million retirees.
Related articles
Yu Darvish extends scoreless innings streak to 25 in Padres' 9
ATLANTA (AP) — Yu Darvish dominated a slumping Braves offense and extended his career-high scoreless2024-05-21Pic Story: Woman Agricultural Entrepreneur Devoted to Vegetables Business
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21Chengdu beat Zhejiang to go second in CSL
Wei Shihao scored his first goal for Chengdu Rongcheng in a 3-0 victory over Zhejiang FC in the fift2024-05-21China launches new relay satellite for Earth
* China launched a new relay satellite on Wednesday to provide Earth-Moon communications services, a2024-05-21Iran helicopter crash that killed President Raisi could reverberate across the Middle East
JERUSALEM (AP) — The helicopter crash in which Iranian President Ebrahim Raisi, the country’s foreig2024-05-21Cultural Relic Conservators Safeguard Ancient City's Glory
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21
atest comment