Quit working sooner?
A dream of many employees.
These special payments can be used to offset pension deductions.
Those who want to retire earlier have to dig deep into their pockets beforehand.
From the age of 50 you can pay extra contributions to the statutory pension insurance to compensate.
Experts say what
extra contributions
that means - and what to watch out for if you don't want to retire at 67.
Update of October 27, 2020: Don't retire at the age of 67?
Can I retire earlier than the age of 67 *? Quite a few contributors ask themselves this question.
"Before that, insured persons can only retire under certain conditions", describes a post on BR.de (as of October 25, 2020) the background and gives a few examples: Those who started working early and have 45 years of contributions in the pension insurance , should also have some of his
pension
sooner
.
The bricklayer who started his apprenticeship at the age of 15 is often cited as an example.
“After decades of building work, it will be difficult for such professions to endure physically until they retire.
That is the basic idea of the retirement at 63 ”, it says in the article.
That is why there is the possibility of
retiring at the
age of 63 without deductions.
The
pension from 63
applies only to insured persons "who were born before January 1, 1953 and whose pension begins after July 1, 2014 and who meet the other requirements," reports BR.de.
For insured persons born after January 1, 1953, the age limit increases by two months with each year.
Read here
: If there is not enough money in old age - you should know that about the basic pension
You can also
retire earlier
if you have “35 years of proof of pension insurance”.
However, the insured should have this "calculated exactly", advises the portal.
And it depends on when you were born: Before or after 1964. For the cohorts before that: "With every month that the insured want to retire earlier, the pension payment decreases by 0.3 percent." This
percentage will deducted from the pension
- "and that until death, not just until the age of 67, when the actual retirement age begins".
Read here:
Experts warn: You should definitely do this before you retire
For example, if you want
to
retire two years earlier
, you have to forego 7.2 percent of your pension, writes the portal.
"Anyone born after 1964 is always deducted 14.4 percent from the pension with 63." For those born up to 1964, it is also worth taking a look at the pension calculator of the Deutsche Rentenversicherung, says BR.de. Everyone can calculate his deduction and the earliest retirement age with his date of birth.
Read here:
Pension paradise Austria: Seniors collect hundreds of euros more than Germans
Article dated May 7, 2020: Earlier retirement - How special payments offset pension deductions
Retire earlier *: That sounds tempting.
As a rule, however, it means that those affected
have to accept
reductions in the statutory pension
.
However, if you voluntarily make
special payments to the statutory pension insurance
during your working life
, you can compensate for these losses.
The reduction in pension when you retire earlier can be calculated as follows: For every month you retire before reaching the statutory age limit, there is a discount of 0.3 percent.
Calculated over a year, that's 3.6 percent.
So if you want to retire at the age of 63 instead of 67, you would receive 14.4 percent less statutory pension every month.
Read here
:
Working less at 55: This is how this dream comes true - and you have so much money left
Early retirement: Extra contributions from the age of 50
There is a way how you can prevent the later losses * - by taking precautions in good time:
From the age of 50 you can pay extra contributions to the statutory pension insurance
- and thereby reduce the discounts.
"The amount of the
special payments
is calculated on the basis of the remaining working time and the time that you go earlier," the German press agency quotes the spokesman for the
German pension insurance
association, Dirk von der Heide.
Read here:
Paying with card in the shop: Be careful, it can get so expensive
German pension insurance gives sample calculation
But that goes into a lot of money, as the calculation examples of the German pension insurance show
: If you would get a pension of EUR 800 per month and would like to retire a year earlier, you have to pay an additional EUR 6,820 into the pension insurance to compensate for the pension reduction.
And if you want to retire three years earlier with a monthly pension of 1,200 euros, you have to spend around 33,160 euros for this purpose.
Read here:
Higher pensions have been decided: This is how much money there will be from summer 2020
Early retirement ?: Inform in good time, advises Stiftung Warentest
If someone is considering retiring to old age earlier, he should inquire in good time, advises Stiftung Warentest.
In order to determine early enough how much you have to pay in, you should seek advice about ten years before you plan to retire
, according to the recommendation.
When the special payments can be made is regulated flexibly
: either the insured person pay the amount all at once or spread it over individual years.
"Currently, however, only up to two payments are possible per year, so you cannot pay in something every month," says Dirk von der Heide.
You can decide yourself about the amount of the respective payment.
Also read
: Woman (60) is completely shocked - when she learns how much pension she will receive later
Paid in, but you don't want to retire?
What happens if special payments have been made but the person concerned does not want to retire earlier?
"Insured persons who do not retire early despite the payment of contributions to compensate for pension deductions will receive a pension that is increased in accordance with the contributions paid," said Deutsche Rentenversicherung.
A reimbursement of the compensation payment is not possible.
Sources: dpa, German pension insurance
Also interesting: Stiftung Warentest:
These are the twelve most common mistakes in life and pension insurance
Employers' associations are now calling for the retirement age to be adjusted to the increasing life expectancy.
ahu
* merkur.de is part of the nationwide Ippen digital editorial network.
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