Despite decades of contributions, millions of people in Germany are faced with low pensions. Around 6.91 million full-time workers subject to social insurance contributions could expect a pension of a maximum of 1,300 euros based on their current income after 45 years of constant contributions.
In East Germany in particular, many people face a pension of less than 1,300 euros after a full-time working life. Nationwide, almost one in three full-time workers would be affected, and in the East almost one in two.
Around one million retirees, who were still waiting for their 'small pension' to be revalued since the pension reform, will see it increase 'at the latest' in October, with a 'catch-up' for the last twelve months, the Old Age Insurance announced on Friday.
The controversial pension reform has increased the 'contributory minimum' (Mico), a support mechanism for small pensions, so that they reach at least 85% of the net minimum wage, for an employee who has completed a full career at the minimum wage.
