Jan 30, 2024
Payment Of The Inflation Compensation Bonus
As part of the collective bargaining agreement for state employees on December 9, 2023, the payment of an inflation compensation bonus was also agreed.
The Saxon State Ministry of Finance announced the following regarding the payment modalities in a letter dated January 24, 2024 (excerpt):
“Both the inflation compensation one-off payment (in principle amounting to 1,800 euros) and inflation compensation monthly payments for the months January to March 2024 (in principle amounting to 120 euros in the months January to October 2024) must be paid out at the “earliest possible point in time” (§ 2 Paragraph 1, Section 3 Paragraph 1 Sentence 2 TV Inflation Compensation). The State Office of Taxes and Finance is expected to pay out the one-off payment as a rule on the February 2024 payday and the monthly payments starting from the March 2024 payday retroactively to January 2024.”
Further details on the collective bargaining agreement can be found here.