Good news from Germany! Tax exemption for retirement pensions is coming.

The German Ministry of Finance has approved a new bill offering tax incentives for retired workers. This law will allow retirees to stay in the workforce longer.

According to the new regulation, the portion of earnings up to 2,000 euros for those who continue to work after reaching retirement age will be exempt from taxes. This will benefit around 168,000 workers.

The increase in retirement pensions in Germany is good news for many retirees, but it may also bring an unexpected tax burden for some. Approximately 73,000 retirees will become income tax payers for the first time due to this increase.

German Finance Minister Lars Klingbeil stated that this regulation will contribute to economic growth and that older workers play a crucial role in knowledge transfer.

These regulations aim to improve the living standards of retirees. The pensions in Germany continue to remain significantly higher compared to those in Turkey.