Editor in chief at IamExpat Media
Old age poverty is a problem in Germany - there’s no question about it. But the federal government’s latest pension report shows that a large number of retirees are actually doing better than ever before.
Couples in Germany who are married and above the age of 65 take home an average of 2.907 euros net per month - a full 14,6 percent more than in 2016. This emerges from the latest German pension report, which is released every four years. The report takes not only pensions into account, but other forms of income such as interest and rent.
According to the 2020 data, senior couples in western Germany have, on average, a net income of 2.989 euros per month, compared to 2.577 euros in eastern Germany. The data also shows a clear gender divide: single male pensioners in western Germany take home 1.875 euros each month (eastern Germany: 1.563 euros), while single female pensioners have an average income of 1.617 euros (eastern Germany: 1.567).
The data shows that, unsurprisingly, pension benefits are pensioners’ primary source of income; and even breaks down the average amounts that different population groups take home each month. Accordingly, married couples receive an average monthly pension packet of 1.961 euros. For single men, the average pension is 1.404 euros, and for single women, it is 1.388 euros.
Alongside these pension benefits, many senior citizens also receive additional income, such as interest or rental income. 61 percent of married couples in western Germany have an additional source of income that brings them, on average, 1.539 euros extra per month. In eastern Germany, 49 percent of married couples have an additional source of income worth an average of 1.080 euros per month.