Pension Newcomers 2024 in Freefall

The number of new pension entries fell sharply from 126,253 to 108,760 in the previous year. This is shown by the financial statement of the pension insurance. The average retirement age for women in all personal pensions was 60.2 years (2023: 60.0 years), while men retired at 62.3 years (2023: 62.1 years). The number of mandatory insured persons increased on average from 3.67 to 3.68 million.

Smaller Gender Pension Gap

The average pension for women in 2024 was 1,825.89 euros and thus increased again. For men, the average pension was 2,762.05 euros. In this regard, the gender pension gap decreased from 36.6 to 33.9 percent in the previous year.

The pension expenditure rose sharply to 47.3 billion euros. This is an increase of more than twelve percent compared to 2023 (42.1 billion). The federal government's default liability - the amount by which expenses exceed revenues - amounted to 8.8 billion.

(APA/Red)

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