A growing number of citizens over the age of 65 have less than 60% of the median income, media group Funke has found.
About one in six Germans over the age of 65 is at risk of falling into poverty, according to a study by the Federal Statistical Office and published by the German media group Funke.
“The at-risk-of-poverty rate for people over 65 rose from 14.7% to 17.4% between 2018 and 2021. Almost one in six people over 65 in Germany are at risk of poverty , which means that she has less than 60% of the median income,the study was cited in the report.
According to the results, older women are more likely to be at risk of poverty. The at-risk-of-poverty rate for women over 65 was 19.3%, while for men it was 15.1%.
In response to the findings, the left-wing faction in the Bundestag demanded government intervention.
“The chancellor’s “stable pensions” are a fairy tale. Poverty among the elderly is exploding”, parliamentary group leader Dietmar Bartsch told the Funke newspaper. He reiterated his party’s demand for a minimum pension of €1,200 and warned that soaring energy prices this winter could leave many older Germans even more destitute.
German inflationary spirals
Germany is struggling with record inflation, which accelerated to 8.8% in August, its highest level in almost 50 years. Energy prices rose 35.6% year-on-year despite relief measures, while food prices climbed 16.6%, accelerating for the sixth consecutive month.
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