Retire: Keep working, collect double
Created: 07/26/2022, 2:50 p.m
By: Jasmine Farah
Many dream of early retirement.
But it is worth it to retire later.
If you also continue to work, you will be financially well off.
“The age of 66 is by no means the end of it”: this only applies to a limited extent for many Germans in this country.
Most are preparing to retire early.
That's possible – in principle, you can retire earlier after an insurance period of 45 years.
Those who have been insured for a particularly long time also have the option of claiming the “pension at 63” early.
If you were born before 1953, you can do this without any deductions, according to the German pension insurance.
So why wait until you're 66 to enjoy your old age in peace?
Retire: Keep working, collect double
66 years: This is the age at which people who were born in 1958 can currently take regular statutory pension.
The age limit rises in stages up to the age group of 1964. Anyone born then or later cannot normally retire until they are 67.
The combination of a regular pension and a job is the most lucrative.
(Iconic image) © dpa / picture alliance / Marijan Murat
However, if you feel physically and mentally fit, you can continue to work despite retirement.
And as the German pension insurance reports, it can even be very lucrative.
According to the Federal Statistical Office, 1.3 million people of retirement age should continue to be employed in this country.
These are divided as follows in terms of retirement age and work:
Standard old-age pension plus job: Get full pension plus salary
Do not apply for a standard old-age pension for the time being and continue to live on the salary
Retire early and keep working at the same time
As the
Stiftung Warentest
shows, those who draw the standard old-age pension and earn unlimited additional profits benefit the most.
The pension will not be reduced.
As a result, this group can secure a considerable monthly total income.
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Retire: pay pension contributions or not?
As far as pension contributions are concerned, you have two options: With the first, you no longer pay any more, which means that the net salary increases by around 9.3 percent, i.e. the employee share that regularly goes into the pension fund.
In concrete terms, this means that you receive more net than the gross.
An example: With an annual salary of 50,000 euros, that is around 390 euros more per month, i.e. a total of 4,650 euros per year.
However, it is more lucrative to continue paying the 9.3 percent into the pension insurance system.
With the goal of getting more money in the end.
This is how it works: The 4,650 euros in the example go into the pension fund, with the result that the net salary is reduced by this amount.
But: This gives you an additional pension entitlement of around 44 euros per month.
Anyone who stays on for nine years will then have the difference back and is also secured at the same time.
