Pensions will rise by 4.57 percent on July 1st

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Summary:

The German government has announced that pensions will rise by 4.57% starting from July 1, 2024, making it the third consecutive year that the pension increase has exceeded 4%. This rise in pensions will be uniform across both the old and new federal states, marking a milestone 34 years after reunification. The increased pensions are based on the growth in salaries, which has increased by 4.72%, and will benefit both retired couples and single retirees. This adjustment is aimed at ensuring that pensions remain stable and reliable for future generations.