Pensions in Germany

Pension increases of 2.4% from January 1, 2025, wage increases for public sector employees from April 1, 2025, reductions in social security contributions, a reduction in the solidarity contribution, and a Christmas bonus for 1.9 million citizens are forecast in the state budget.

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The vast majority of self-employed professionals, who choose the lowest (or first) social security category, will pay almost 8 euros per month or €95.52 per year more in their contributions for main pensions and healthcare, in line with the inflation rate of 2023.

The National Assembly has passed a much-needed bill on long-term care, determining the scope of services to be provided by the state and introducing a new contribution to finance them. It will be paid by employers, employees and pensioners.

The government has offered indirect financing to the Single Social Security Entity (EFKA) in the first four months of its operation so that the fund can cover its obligations.

The constant decline in salaries and the rise of flexible forms of employment are undermining the sustainability of the country's social security system despite the numerous interventions in terms of pensions.

While thousands of pensioners are trying to realize that their pension will not exceed the amount of 600 euros with poverty line set at 665 euros, Labour Minister Giorgos Katrougalos makes great efforts to convince Greek citizens that it is not true that there would be huge pension cuts accusing opposition of telling lies to the people.

Greek fiscal targets will not be met unless deep cuts are made to pensions, even those that are lower than 1,000 euros per month.

Greece’s creditors are eyeing further slashes to already butchered pensions that have been scissored during previous bailout deals. IMF Chief Delia Velculescu – obsessed with further cuts to Greece’s low pensions – spearheads the plan for social security reforms that include pension cuts of as much as 30%.