More people entering retirement
The number of people entering retirement in 2024 was 937,000, which is around 15,500 less than in 2023. The reason for this slight decline is related to the number of people entering retirement in the previous year being particularly high due to pension start postponements and the increase of the statutory retirement age. This effect particularly impacted standard pensions and pensions for persons with exceptionally long contribution histories (“pension at 63”). 28.7 per cent of all people entering retirement in 2024 receive pensions for persons with exceptionally long contribution histories, and this continues to be the most frequently claimed type of early old-age pension. It can be drawn early without deductions as soon as an insurance contribution history of 45 years is reached. As a result of the statutory retirement age being raised for people born in 1960, the earliest pensionable age is 64 years and four months. An increasing number of baby boomers are currently reaching retirement age. This will push up the number of pensions for people with a severe disability and for people with long contribution histories in 2024 compared to 2023.
| Retirement entrants by pension type | 2024 Number | 2023 Number | Change % |
|---|---|---|---|
| Total | 1.510.993 | 1.534.690 | -1,5 |
| Reduced earning capacity pensions | 171.732 | 164.364 | 4,5 |
| Total old-age pensions* | 937.107 | 952.658 | -1,6 |
| of which old-age pensions | |||
| ... for severely disabled persons | 64.879 | 62.210 | 4,3 |
| ... for insured persons with a long-term insurance record | 225.120 | 212.611 | 5,9 |
| ... for insured persons with an exceptionally long-term insurance | 268.751 | 279.134 | -3,7 |
| ... as regular old-age pension | 378.243 | 397.579 | -4,9 |
| Survivors’ pensions | 402.154 | 417.668 | -3,7 |
| * Includes three less frequently occurring pension types: long-term mineworkers’ pensions, unemployment/partial early retirement pensions and pensions for women. | |||
“Reduced earning capacity pension benefits will continue to rise as a result of legislative changes.”
Chair of the Federal Board of Deutsche Rentenversicherung Bund
Reduced earning capacity pensions are still rising
The average amount of reduced earning capacity pension increased to around 1,041 euros for people entering retirement in 2024. In 2023 it was around 1,001 euros. In 2013 the average amount of reduced earning capacity pension benefit was 613 euros, which means a total increase of 428 euros or more than 70 per cent. Among other things, this can be attributed to benefit improvements in the years 2014, 2017 and 2018, as well as the significant extension of the non-contributory supplementary period and the higher retirement age.
Higher retirement age
In recent years the average age at which old-age pensions have been claimed for the first time has increased significantly. The average age of 62.3 in 2000 had risen to 64.7 in 2024, even when a differentiation is made between men and women. The main reasons why people are postponing (their) retirement later are the introduction of a higher statutory retirement age and the phase-out of two types of early old-age pensions. Under some circumstances it was possible to claim early old-age pensions, such as the old-age pension for women, the unemployment pension and the partial early retirement pension, at the age of 60 in the past. In addition to that, the statutory retirement age in 2024 for those born in 1958 was already 66.
Increase in pension benefit rates for pensions already awarded
On average, the pensions benefit rates for pensions already awarded were 4.7 per cent higher in 2024 than in the previous year. The reason for this increase is the pension adjustment of 4.57 per cent as of 1 July 2024.
| Payout rates by pension type | 2024 euros | 2023 euros | Change % |
|---|---|---|---|
| Average payout all pension types | 1.055 | 1.007 | 4,7 |
| of which** | |||
| ... Average payout for reduced earning capacity pensions | 1.027 | 978 | 5,0 |
| ... Average payout for all old-age pensions | 1.154 | 1.102 | 4,7 |
| ... of which paid to women | 955 | 908 | 5,2 |
| ... of which paid to men | 1.405 | 1.348 | 4,3 |
| .. Average payout for survivors’ pensions | 717 | 689 | 4,0 |
| **After deduction of the pensioners’ health and long-term care insurance contributions. | |||
Woman continue to acquire more insurance periods
The number of years of insurance for women has risen markedly in recent years. In 2004, women had been paying insurance contributions for an average of 26.3 years when they started drawing their pension. In 2024 that figure had risen to 37.7 years. One particularly important reason for this increase is that more women in the Western German states are in employment, although female employment in the Eastern German states is still much higher. Other factors are the phasing out of the option to take an old-age pension at the age of 60, the extension of child-rearing credit periods with the so-called “mothers’ pension” and the raising of the statutory retirement age. The mothers’ pension is not a separate pension, but rather an improved recognition of child-rearing periods in the statutory pension insurance system, particularly for children born before 1992, in order to reward parents for caring for and raising their children and to increase their pension entitlements.
Higher average age of rehabilitation patients
The average age of inpatient and outpatient medical rehabilitation service recipients has risen since the turn of the millennium. Demographic trends have been instrumental to this development.
Number of insured persons at an all-time high
The number of persons subject to compulsory insurance contributions and not receiving a pension hit a new high of 33 million at the end of 2023. This corresponds to an increase of 0.3 per cent versus the previous year.
Credits: Statistics of the German Pension Insurance – insured persons 2023 and 2022
Further information
Further figures and statistics can be found at www.statistik-rente.de
