1.4 Million German Pensioners at Risk of Poverty: Die Bayerische Launches Awareness Campaign
Nearly one in five German pensioners, around 1.4 million, are at risk of poverty, with 19.4 percent affected in 2024. This is the highest rate since 2020. Die Bayerische, an insurer, has launched a campaign to highlight the situation of retirees in Germany.
Experts advise saving an additional 10 to 15 percent of net income to maintain the standard of living in old age. However, half of all German pensioners receive less than 1,250 euros per month from the statutory pension. Martin Gräfer, a board member of die Bayerische, stresses the importance of taking early action to secure a free and independent life in old age.
The campaign focuses on pensioners who continue to work, with over 1.4 million doing so, including 375,000 in regular employment. While 29 percent work voluntarily, a third do so out of financial necessity. Women are particularly affected, with over 3.5 million pensioners at risk of poverty. The campaign uses films broadcast online, on TV, streaming platforms, and social media to raise awareness.
Die Bayerische's campaign aims to shed light on the retirement provision situation in Germany. It targets pensioners who continue to work but also need additional income. With the at-risk-of-poverty rate among pensioners at its highest since 2020, the campaign encourages early action to secure a comfortable retirement.
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