While retirees in Turkey are struggling with inflation, their purchasing power is disappearing day by day. The second increase of the year will be added to the salaries of retirees in July. However, the retiree always expresses that he has trouble making ends meet. The door was closed due to the additional raise for retirees. Inflation continues to increase in Turkey. Salaries eroded against inflation. In Germany, retirees will receive a raise twice the inflation rate.
INCREASE AS MUCH AS TWICE THE INFLATION
Inflation in Germany was announced as 2.2 percent in March. The German government is preparing to give its retirees a raise twice the inflation rate. More than 21 million retirees in Germany will receive a 4.57 percent raise starting July 1. With this increase, pensions will rise faster than inflation in the country.
EQUAL RAISES FOR ALL PENSIONERS FOR THE FIRST TIME
For the first time, the pension increase will be applied equally across the country. Historically, pensions in the former East Germany lagged behind those in the former West Germany.
Last year, a larger increase in the German Democratic Republic (East Germany) equalized pensions across the country earlier than originally planned. This was because wages rose faster in the East.
Last year’s pension increase was 4.39 percent in the former West Germany and 5.86 percent in the former East Germany.
