People in the North Draw Pensions for Longer - Schleswig-Holstein’s retirees now enjoy longer pensions than ever before
Residents of Schleswig-Holstein are now enjoying longer retirement periods than they were five years ago. In 2024, the average duration of pension payments reached 21.3 years, up from 20.8 years in 2019. This shift comes alongside a steady rise in the number of pensioners across the state.
As of late 2024, around 638,000 retirees were receiving old-age pensions in Schleswig-Holstein. The increase in retirement duration reflects broader demographic and policy changes. Women continue to retire for longer than men, averaging 22.7 years in 2024 compared to 19.7 years for men.
The average retirement age has also climbed slightly, from 64.4 years in 2019 to 64.8 years in 2024. Several factors explain the rise in pension benefits over the past five years. Annual adjustments to pension payments, an ageing population with fewer working-age people supporting each retiree, and national reforms have all played a role.
One key reform was the removal of additional income limits for age pensions in 2023. This change allowed retirees to earn more without penalties, leading to higher contributions and, in turn, increased pension payouts. Projections suggest the ratio of retirees to working-age people will rise from 30 per 100 in 2022 to 36 per 100 by 2031.
The trend of longer retirement periods in Schleswig-Holstein is expected to continue as the population ages. With more retirees relying on pensions for extended periods, the system will face growing pressure. The combination of policy reforms, demographic shifts, and higher contributions has already reshaped how pensions are paid out in the region.
