Rising Poverty Among Seniors in Germany: Record Number of At-Risk Retirees

Recent statistics reveal a concerning trend in Germany, highlighting a significant increase in the number of retirees facing poverty. According to data from the Federal Statistical Office, requested by the BSW political group, the proportion of seniors aged 65 and older classified as at risk of poverty rose from 18.4% in 2023 to 19.6% in 2024, marking a record high.

This 1.2 percentage point increase translates to an alarming rise of approximately 300,000 individuals, bringing the total number of at-risk retirees to 3.54 million. This growth rate surpasses the overall population increase, where the risk of poverty rose by 1.1 percentage points to 15.5%.

A person is considered at risk of poverty if their income is less than 60% of the median income. In 2024, this threshold was set at EUR1,378 net per month for individuals living alone, while for families consisting of two adults and two children under the age of 14, the limit was EUR2,893. It is important to note that the poverty risk indicator assesses income levels relative to others in the same country rather than measuring absolute wealth or poverty, and does not account for assets such as cash or property.

The rising numbers have prompted alarm among social policy advocates. BSW Chairperson Sahra Wagenknecht expressed deep concern over the situation, describing the increase in impoverished retirees as a significant failure of current pension policies. She criticized political parties for not offering viable solutions, asserting that the current pension system is inadequate for ensuring financial security for those who have dedicated their lives to work.

Wagenknecht proposed adopting a pension system similar to that of Austria, where contributions are required from civil servants and self-employed individuals. She argued that such reforms could potentially provide retirees with an additional EUR800 on average each month, improving their standard of living significantly.

The issue of pension adequacy is becoming increasingly urgent as the population ages. The growing risk of poverty among seniors raises questions about the sustainability of the current pension framework in Germany and the economic security of its elderly citizens.

As discussions surrounding pension reform continue, the government faces mounting pressure to address the needs of an aging population and ensure that those who have contributed to society throughout their working lives can retire with dignity and financial stability.