The incentive program introduced in January, which encourages pensioners to take on more work, is beginning to show results. According to an analysis by the IT service provider Datev, reported by FAZ, medium-sized companies have hired noticeably more retirees since January compared to the previous year. The employment of full pensioners working without social security contributions in these medium-sized companies rose by 2.1 percent in the first quarter of the year compared to the same period last year. In March alone, this increase reached 3.2 percent, which Datev noted was an unprecedented growth rate in recent years.
Datev estimates that in March, medium-sized companies hired approximately 4,300 full-time equivalents of full pensioners more than they did a year ago. According to Timm Bönke, Datev’s chief economist, since retirees typically work about twenty hours per week, this likely translates to roughly 9,000 additional working pensioners.
The coalition government voted to implement the Active Pension program last year to boost the willingness of retirees to work. Since January, employees are able to earn up to 2,000 euros per month, which is tax-free and can be added to their regular pension. For this analysis, Datev, the IT service provider for tax consultants, utilized payroll data from around 5.5 million employees, which was anonymized and aggregated by the cooperative.
