Deutsche Rentenvrsicherung (02.07.2020) On July 2, Germany’s parliament approved a law that will introduce an income-tested basic pension (Grundrente) on January 1, 2021, to supplement the country’s social insurance old-age pension (beneficiaries should have at least 35 years of basic-pension years of contributions). This new program is intended to reduce the risk of old-age poverty among individuals who had below-average earnings in their working lives or spent considerable time outside the labor force.

Ministry of finance (17.07.2020) Starting this July, the National Treasury of the Ministry of Finance will apply to pensions higher than ¢ 2,296,000 corresponding to the National Pension Directorate, Pension Board of the National Teaching Staff and the Ex-Presidents Regime, the deduction for special solidarity and redistributive contribution, established by Law No. 9796 (“Law to Redesign and Redistribute the Resources of the Special Solidarity Contribution”).