In Germany, over 24 million people receive a statutory pension, which averaged 854 euros in 2020.
Most pensioners have additional income from private or company pension schemes and thus achieve an average net income of 1800 euros.
You are one of the richest ten percent of pensioners with a net income of 3190 euros or more.
Over 24 million people in Germany receive a statutory pension. The real payment amount – i.e. after deducting social security but before taxes – of the statutory pension in 2020 was an average of 854 euros. The top ten percent of pensioners have a total of almost four times as much per month – mind you, net.
Although almost 3200 euros is a considerable sum, it doesn’t sound like wealth. Nonetheless, this is a high This emerges from the data of the economic research institute DIW. In addition to the statutory pension, most pensioners have additional income from private or company pension schemes. According to the DIW, the monthly median net income of a pensioner living alone is 1,800 euros.
What is a median salary?
Because extremely high or low salaries can easily skew the average, analysts often refer to the median. This is the number that is exactly in the middle of all the values. This means that there are exactly the same number of salaries that are lower and higher than the median salary.
You are among the top ten percent of pensioners from a net household income of 3190 euros. In the total population, on the other hand, 14 percent have an even higher income, although the regional differences between east and west Germany are large: in east Germany only six percent have a higher income than pensioners, in west Germany it is 16 percent.
Anyone who retires before reaching the statutory retirement age usually has to reckon with deductions. Depending on how much earlier you retire, the pension is reduced by up to 14.4 percent. On the other hand, it is worth continuing to work: With every additional month, the pension can be increased by 0.5 percent.
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