Germany to hike pensions nationwide by 4.57%

The more than 21 million pensioners in Germany will receive a substantial 4.57% pension increase beginning on July 1, after the German Cabinet approved the adjustment on Wednesday in Berlin. With this increase, pensions are set to rise faster than inflation in the country. The last time pensions rose faster than inflation was in 2000. The increase is larger than originally predicted, which Labour Minister Hubertus Heil credited to strong wage growth in Germany. In the autumn, estimates had predi

Related Keywords

Berlin , Germany , German , West Germany , East Germany , Hubertus Heil , , German Cabinet , Labour Minister Hubertus Heil , Pension Increase , Deutsche Rentenversicherung ,