Pension insurance

The German statutory pension insurance is the most important and strongest pillar, of the old-age security system in Germany. However, additional retirement provision makes sense and is necessary, in order to be able to maintain the standard of living achieved in working life in old age. The structure of such a supplementary pension has been 2002 government sponsored. The principle is as simple as it is effective: If you make provisions for your retirement in Germany in addition to your statutory pension, whether private or at work, are subsidized by the state. With allowances and by exemption from taxes- and obligation to contribute.

Statutory pension insurance is a branch of social security in Germany. It protects its insured against financial losses due to endangerment or reduced earning capacity, in old age and in the event of death of their surviving dependents.

By whom is the pension insurance funded??

The financing of the statutory pension insurance takes place via a so-called pay-as-you-go system through the pension insurance contributions of the employed persons who are subject to compulsory insurance and through a federal subsidy. That means, with the posts, that you deposit, the pension fund finances the entitlements of current and future pensioners.

In addition to old-age pensions, pensions for reduced earning capacity and pensions for surviving dependents as well as rehabilitation benefits are paid.

retirement age

There are statutory retirement ages for the various old-age pensions. However, you may be able to apply for your pension, before or after you have reached retirement age. Do you want to retire earlier?, you have to accept deductions. The pension entitlements already acquired are usually decisive for the point in time when you apply for a pension, health status, as well as the private and professional situation.

The age limit increases gradually 67 Years
The age limit for the standard old-age pension without deductions has been 2012 and until 2029 gradually from 65 to 67 years raised. Starting with the year of birth 1947 will the age limit up 2023 increased by one month per year. For example, are you born? 1955, you can with an age of 65 years and nine months to retire. From 2024 the age limit will start with the year of birth 1959 increased in 2 month increments.
For insured persons from the year of birth 1964 then the standard retirement age applies 67 years. The vintage 1964 is the first year, at which the age limit for the standard old-age pension 24 months on that 67. year of life is raised. This age group can therefore only receive the standard old-age pension in the year 2031 take advantage of.

Old-age pension for particularly long-term insured

Now the age limit of 63 years gradually 65 years raised: Particularly long-term insured, the latest 1952 were born, could already come with 63 years to retire without deductions.

How much is my pension?

The amount of the pension depends on the duration of the pension payments and their amount.

What is the statutory minimum pension?

At, whose pension insurance starts later, receive 70 Percent of minimum wage for a full-time married worker as minimum pension. The minimum amount is therefore 495,74 Euro.

The Deutsche Rentenversicherung will be happy to provide you with further information.