Children in Germany will receive 10€ monthly from the State for retirement
The measure will have retroactive effect from 1 January for children born in 2020
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Summary
The measure will have retroactive effect from 1 January for children born in 2020. Children in Germany will receive 10 euros monthly from the state for retirement. Without making any additional contribution, this amount could amount to around EUR 53,000 at the time of the reform.
Furthermore, Additional contributions may be made up to EUR 6,840 per year. As a general rule, subsidized capital cannot be raised until the age of 65. The German Vice-Chancellor and Finance Minister, Lars Klingbeil, who chaired the Council of Ministers today, stressed that "in this way, young people will accumulate their own heritage over the years and will learn from an early age how financial forecast works on capital markets".
In addition, Children for whom an individual account is not opened will benefit from the support — which still needs to be approved by the German Parliament — through collective investment in capital markets under the management of the German Central Bank (Bundesbank).
Cross-referenced from 3 sources.
Factual coreconfirmed by several independent voices
The measure will have retroactive effect from 1 January for children born in 2020.
reliability low1/3 sourcesChildren in Germany will receive 10 euros monthly from the state for retirement.
reliability low1/3 sourcesWithout making any additional contribution, this amount could amount to around EUR 53,000 at the time of the reform.
reliability low1/3 sourcesAdditional contributions may be made up to EUR 6,840 per year.
reliability low1/3 sourcesAs a general rule, subsidized capital cannot be raised until the age of 65.
reliability low1/3 sourcesThe German Vice-Chancellor and Finance Minister, Lars Klingbeil, who chaired the Council of Ministers today, stressed that "in this way, young people will accumulate their own heritage over the years and will learn from an early age how financial forecast works on capital markets".
reliability low1/3 sourcesChildren for whom an individual account is not opened will benefit from the support — which still needs to be approved by the German Parliament — through collective investment in capital markets under the management of the German Central Bank (Bundesbank).
reliability low1/3 sources
Disputedincompatible versions — to verify
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