According to a report in the “Bild” newspaper (Monday), the costs of the pension without deductions after 45 years of insurance are significantly higher than planned.
As the newspaper reports, citing new figures from German pension insurance, there were already 1.99 million users of the so-called “pension at 63” at the end of July.
That is around 400,000 more seniors than was expected when it was introduced in 2014.
268,957 new pensioners in 2021
According to the “Bild” report, 268,957 new pensioners used the deduction-free path to retirement in the past year alone.
That was 26.3 percent of all new pensions and the highest proportion since 2015. As a result, expenditure on this type of pension is also increasing.
In July, the pension fund paid out 3.4 billion euros for the “pension at 63” alone, the newspaper reports.
Despite entering earlier, these new pensioners received an average of 1,644 euros per month in the west and 1,350 euros in the east in 2021.
New pensioners in the West, on the other hand, received EUR 1,220 and in the East EUR 1,286 net/month.
Since 2014, the pension at 63 has been open to everyone who has paid into the statutory pension insurance for at least 45 years.
There are no deductions here.