Despite the slowdown in economic activity in Germany: 2020 is likely to be for the majority of German citizens is financially a good year. The wages and salaries of employees are likely to increase again noticeably. And also the retirees likely to be able to do something more.

"The majority of consumers will have more money in your wallet", predicted the economic expert Torsten Schmidt from RWI - Leibniz Institute for economic research in Essen, in an interview with the German press Agency. Because the labour market will develop, despite some problems in the German industry in the year 2020 is relatively robust and Inflation will stay low.

real purchasing power rises

this assessment is also Supported from the autumn report the leading German economic research institutes. It is assumed that the real purchasing power of households will rise next year to around 1.5 percent.

low-income earners and trainees

low-income earners in 2020 will benefit from the fact that the statutory minimum wage on 1. January increases from currently 9,19 Euro 9,35 Euro per hour. Also for trainees is provided by 2020 for the first time after years of staggered minimum remuneration. Who starts in the coming year, his doctrine, should at least get 515 Euro in the month. Around eleven percent of the training firms must, therefore, in the future, for their trainees deeper into the bag. Are you dissatisfied with your salary? (Display)

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to 2020 for pensioners

the more than 21 million pensioners in the summer, with more money expected. 1. July 2020, the pensions in West Germany is expected to grow by 3.15 per cent and in the East by 3.92 per cent, as the pension report 2019 emerges. A monthly pension of 1000 euros, which is only based on Western contributions, is expected to increase to 31.50 euros, the same level of pension with Eastern contributions to 39,20 euros. Finally decided on the pension adjustment, however, only in the next spring, when the exact Figures of the wage statistics is available.

income limits for all tax rates will rise

The German citizens benefited from the fact that the state holds back the access to the additional money earned, at least to some extent. The income limits for all tax rates will rise in 2019 to 1.95 percent. Thus, the Inflation should be compensated. The basic allowance in the income tax will be increased for singles to 9408 Euro, a Plus of 240 to the Euro compared to 2019. For Married couples twice the amount. PDF check list for the tax Declaration to Our PDF guide shows you how you can get your tax return quickly and save.To the PDF guide

social assistance, ALG, reason, fuse social assistance, unemployment benefit II or basic security in old age, relates, gets in the new year at 1.88 percent more money. 1. January the rule set for a single person to 8 euros to 432 euros per month.

unemployment insurance contributions

decrease the impact of Some of the new regulations elsewhere, are likely to also have a positive effect on the financial position of the citizens. As the posts sink to the unemployment insurance of 1. January, again by 0.1 points to 2.4 percent. For employers and Employees, this means a discharge of about 600 million euros per year, emphasized the Federal government.

Less members must take care of the cost numbers

Good news, the new year also brings many German citizens, the cost so far to care for their parents participate had to. Because after the new members relief act debtor members to be used only of a gross annual income of more than € 100,000 for the cost of the care. "In about 90 percent of the cases, family members are not more involved in the cost of care," predicts the consumer advice centre of North Rhine-Westphalia.

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Also for electricity, many consumers need to 1. January 2020 to dig deeper into their pockets. The reason is that Many providers will increase your prices. The justify with the increase in the levy under the German Renewable energy sources act (EEG levy). The second is to increase in 2020 by 5.5 percent to 6,756 cents per kilowatt-hour and accounts for about 22 percent of the total electricity price. At the same time, charges for the electricity networks in the coming year (with regional Differences) are on the rise. Cost more, the rich of the providers to their customers.

More to the Changes in the year 2020

• New laws and regulations, company pensions, plastic bags, electricity: What is vaccination by 2020 all consumer changes
• Changes for the new year - children's money, alimony: What is expected of families and parents in 2020

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Date Of Update: 01 January 2020, 01:01