German government approves biggest pension increase in decades | abroad

The German government gave the green light on Wednesday to raise pensions. This is the largest increase in decades.

In the former West German federal states, pensions will increase by 5.35 percent on July 1, and in the former East Germany they will increase by 6.12 percent. These are the largest increases since 1983 and 1994, respectively.

However, civil society organizations and unions are reacting moderately to the ruling center-left coalition’s pension increases, amid spiraling inflation. “The relatively good increase in pensions is being completely swallowed up by the high prices,” said Anya Bell of the umbrella organization of German trade unions.

According to economists, inflation in Germany is expected to reach 6.1% this year.

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