Relief package: families with children benefit especially

Up to 1,300 euros: families with children benefit in particular: the relief package brings you that much

Discounts on fuel tax and train tickets, more net pay, one-time bonuses for children and energy costs, abolition of renewable energy fees and exemption from tax returns – the federal government wants to use these measures to ease the burden on people in Germany. But how much does that really matter? The experts made the calculations.

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Exclusive to FOCUS Online, a digital asset manager set how much relief package Specifically can contribute.

This shows that families with children benefit the most, and the self-employed and singles feel much less satisfaction. If the pension increase is included on July 1, retirees will also have more money in their wallets.

Relief package: more than 1,300 euros for a family with two children

For a family with two children, the benefit can be more than 1,300 euros (employees, together 8,000 euros gross salary per month and 30 kilometers one way to work, petrol engine). But a retired East German couple also benefits from around €1,100 (pensioners since 2020, together €3,000 total and a petrol engine with 20,000 km/year). For comparison: a similar pair of pensioners in the West is about 100 euros less because the pension increase is less here.

One-time payments for energy bonus and children show the strongest effect, senior experts calculate. The effect on the net monthly wage (by increasing the base premium) is rather small – it ranges from ten euros per month for singles to more than 25 euros for couples with very good incomes.

Paycheck: Go to Gross Net Calculator 2022

But: Because the change applies retroactively from the start of the year, employers should be able to correct payroll retroactively. According to the Ministry of Finance, this should happen if it is “economically reasonable”. If the pay slips are not corrected, employees will benefit from the 2022 income tax return—that is, only next year. Only then will the increased expenses related to income and long-distance travel allowance become noticeable. Although retirees do not benefit from one-time payments, they will receive much more monthly payments than in July due to increased pensions.

“The calculations show that the relief package will make itself felt,” says Thimm Blickensdorf of Digital Asset Manager Management. However, at the same time, he notes: “In the current economic situation, an undesirable side effect is possible: an increase in purchasing power in the market can increase inflation.” In this context, experts speak of the wage-price spiral as the engine of inflation.

Small impact for the self-employed

The effect of the relief package for the self-employed is the smallest. The only self-employed person (3000€ per month, traveling by train, without children) only benefits from a total of 475€. For an employee with the same earnings, it is not less than 550 euros. Recipient of unemployment benefit II (“Hartz IV”) with more than 780 euros (single, two children, public transport) – but the effect is mainly due to one-time payments and an increase in child allowance.

However, the package of measures does not address the main problem of inflation: a sharp decline in the purchasing power of savings in which there is no interest or even negative interest accrued. According to Bundesbank, this affects about 2.9 trillion euros in assets – and thus a large part of the assets in Germany. “A lot of people leave feasible alternatives like globally diversified investing with unused ETFs, even though experts like Stiftung Warentest explicitly recommend them,” explains Blickensdorf’s Blickensdorf. In recent years, an average return of more than seven percent has been achieved annually, even including difficult market phases such as the financial crisis or the Corona crisis. The simple idea behind it: If investment outweighs price increases, investors avoid the effects of inflation.

The pride account includes all relevant taxes except for the church tax. Also included are the long-term care insurance surcharges for people without children over the age of 23, expenses related to flat-rate income (or flat-rate passengers if higher), electricity consumption by family size, gasoline or diesel consumption and average costs Public transport (except for children). Statutory health insurance and basic pension (Rürup) was assumed at 18.6% of income for the self-employed.

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