Learn more

Germany’s Cabinet has approved a set of proposed pension changes on Wednesday that would link future benefits to wage levels, following months of negotiations, sources told dpa. The proposed legislation would keep pension payments aligned with wage levels, fixing minimum benefits at 48% of the average wage in Germany. Without reform, the level – meaning the amount paid to a pensioner each month – is set to fall to around 45%, because millions of people born in the 1950s and 1960s will turn from contributors into pensioners. Previous “sustainability” schemes had tied the level to the demographi…

cuu