Heatin' Up the Wallet: July's Brighter Financial Scene
July brings shifts in pension payments, taxes, and healthcare services: adjustments to expect
Summer's here, and you know what else is? A slew of pocket-pleasing financial changes in store for us starting July 1st! Check out the updates that'll put some extra pep in your step:
Golden Years Gallivanting
Retirees, rejoice! Your pension benefits are climbing, and that equates to more money in your pocket. For example, a retiree who collects a monthly pension of 1,000 euros can expect an additional 37.40 euros. For those with average earnings, a standard pension, and 45 contribution years, the benefit adjustment is looking to be 66.15 euros per month.
A helping hand for the less fortunate
Those who suffered under the SED regime will also be seeing an increase in their compensation. The pension for former DDR prisoners is getting a 70 euro boost, up to 400 euros per month.
Increased earnings for the caring hearts
Caring for the elderly just got more rewarding! Employees in the elderly care sector will be receiving a raise: minimum hourly wage for nursing professionals is jumping up to 20.50 euros, while qualified nursing assistants and nursing assistants will be earning 17.35 euros and 16.10 euros, respectively.
Time to get your papers in order
Mark your calendars: the tax return for calendar year 2024 will be due July 31, 2025. However, if you're seeking guidance, you'll have until April 30, 2026. Keep in mind that farmers and foresters, among others, are subject to exceptions.
Caregivers: freedom comes with a catch
Caregivers will be enjoying more flexibility in the form of respite and short-term care benefits combined into an annual total of 3,539 euros. Slip into respite care without having to care for the person to be cared for for six months, provided that care level 2 or higher is already determined. Additionally, care insurance will cover the costs for a substitute when care level 2 or higher is in play.
Politics, while we're on the subject...
Germany's 630 members of the Bundestag are getting a raise, with their daily allowances increasing by 5.4% to around 11,834 euros starting July 1st.
Amsterdam's sustainable waterways
The Dutch city is branching out its environmental efforts, as it announces the introduction of a new environmental zone for boats in its city center starting April. Only electrically or hydrogen-powered recreational ships and rowing boats will be welcomed there starting July 1st, while throughgoing waterways will remain unaffected. Plot a course for less pollution in urban waterways!
Stay tuned for more news and happenings in Hamm. Don't miss out on the recent happenings in our beloved city, including reports on wildlife accidents, celebrations for Hamm's 1025th birthday, and the search and finding of a missing 73-year-old. Keep it locked right here! 💪💪🌟🌟☄️☄️🌟🌟
In light of the upcoming financial changes, it's an excellent time to focus on personal finance. With pension benefits increasing for retirees and wage enhancements for those in the elderly care sector, there are opportunities to boost your income. Additionally, make sure to budget for your tax return, as it's due on July 31, 2025, for the calendar year 2024.
