The surplus is in large part explained by the high excess mortality, which officials chalk up to COVID. But statisticians say the numbers don’t add up.
Germany’s statutory retirement insurance expects a surplus of €2.1 billion at the end of 2022, its president, Gundula Roßbach, told the German news agency DPA. “A year ago, a deficit of €6.5 billion had been predicted,” Roßbach said. The surplus can be explained by a surprisingly stable job market in Germany alongside a surprisingly high excess-mortality rate.
Despite multiple crises, the labor market in Germany is sturdy, according to Roßbach. This led to a good revenue situation for retirement insurance.
