Recent data released by the Federal Statistical Office (Destatis) reveals the income landscape for Germany’s retired population, aged 65 and over. The analysis, based on the 2024 EU-SILC survey, highlights a range of financial circumstances among the approximately 16.3 million individuals in this demographic.
According to the findings, 20 percent of retirees have a monthly net equivalent income of no more than €1,400. A further 20 percent fall between €1,400 and approximately €1,790 per month. The top 20 percent of retirees, however, command a monthly net equivalent income exceeding €2,870.
The median net equivalent income for individuals aged 65 and over in retirement currently stands at €1,990 per month, surpassing the income of half the population but falling below the median income of the general population, which is approximately €2,300.
The number of retirees and their income levels have steadily increased in recent years. In 2021, this group comprised 15.9 million individuals with an average monthly income of approximately €1,820, a figure that has risen by nine percent by 2024. The average income of the overall population increased by eleven percent over the same period.
The majority of retirement income stems from pensions and annuities, with further contributions from other sources such as assets, employment and social welfare payments. For households consisting solely of retirees, pensions and annuities typically account for 92 percent of income.
A significant gender disparity exists in retirement income. Women receiving pensions or annuities average gross monthly earnings of around €1,720, compared to men’s average of approximately €2,320. This represents a gender pension gap of 25.8 percent. This difference is partially attributable to historically lower rates of employment among women. When accounting for survivors’ pensions, which are derived from a partner’s employment history, the gap widens to 36.9 percent.
While the overall gap has narrowed slightly in recent years due to increases in women’s retirement income, the need for state support is also growing. Nearly 739,000 individuals received basic income support for the elderly (SGB XII) at the end of 2024. This number represents a 7.1 percent increase compared to the previous year and a 31.0 percent increase since 2020, partially driven by an increase in eligible Ukrainian citizens. At the year’s end, 4.1 percent of the population aged 65 and over received basic income support, up from 3.9 percent a year prior and 3.2 percent four years ago.
