500 Euro – Next one-time payment coming in March

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As part of the big budget day in the National Council, an increase of 7.74 percent in the compensatory allowance and another one-off payment were approved.

The budget for 2023, which the National Council approved on Wednesday, is worth a whopping 115 billion euros. However, a minus of 17 billion euros jumps out, mainly due to the current debt due to the Corona crisis, increased interest rates, the Antiteuerungspaketen, and inflation – more here.

Decided now not only the general pension increase of 5,8 percent but also a recent unique payment of up to 500 euros for persons of small and middle pensions. In addition, the compensatory allowance will be increased by 20 euros outside of work and will thus rise by a total of 80 euros to just over 1,110 euros at the beginning of the year.

According to the law, the one-off payment will be transferred in March, with pensioners with a gross monthly pension of between 1,667 and 2,000 euros receiving the maximum amount of 500 euros. For lower pensions, a one-time supplement of 30 percent is provided; for pensions above 2,000 euros, the one-time payment gradually decreases. For pensions of 2,500 euros or more, there is no supplement.

The general prerequisite for receiving the tax and direct duty-free payment is habitual residence in Germany. In addition, the law stipulates that this payment may neither be offset against social welfare nor seized.