Overview

• Chancellor Friedrich Merz said the Aktivrente will begin on 1 January 2026 following his ZDF interview confirmation.
• Retirees at the statutory age could earn up to €2,000 per month tax‑free on top of their pension on a voluntary basis.
• The government plans to scrap the pre‑employment ban so retirees can take fixed‑term work with former employers.
• Under current rules, post‑retirement earnings are taxed in full except for minijobs up to €556 per month, a threshold the reform would greatly expand.
• Analysts, including the Bundesbank and DIW, expect limited effects on labor supply and warn the measure mainly advantages well‑paid retirees already able to work.