The number of retirees in Germany facing poverty has reached a record high, with 19.6% of those aged 65 and older now classified as at risk.

This marks an increase from 18.4% in 2023, adding approximately 300,000 more individuals to a total of 3.54 million.

The poverty threshold for a single person in 2024 was set at €1,378 net per month.

BSW leader Sahra Wagenknecht criticized the current pension system, calling it a "megaproblem" and urging reforms modeled after Austria, where all workers contribute to the system.

The rise in retiree poverty outpaces the overall population, where 15.5% are considered at risk.

Inflation and rising living costs have further strained low-income households, intensifying the issue.