The Limited Times

Now you can see non-English news...

Work despite widow's pension: From when the contributions will be reduced

2022-08-10T04:08:14.763Z

Earning additional income from the widow's pension - a common misconception will cost you hard cash Created: 08/10/2022, 06:00 By: Jasmine Farah Anyone who receives a widow's pension but still has to work part-time usually looks at every euro they earn. But when will the tax authorities intervene? Since July 1st there has been more money for pensioners. As a result of rising inflation and food



Earning additional income from the widow's pension - a common misconception will cost you hard cash

Created: 08/10/2022, 06:00

By: Jasmine Farah

Anyone who receives a widow's pension but still has to work part-time usually looks at every euro they earn.

But when will the tax authorities intervene?

Since July 1st there has been more money for pensioners.

As a result of rising inflation and food and energy prices, they are to be financially relieved.

As a result, pensions will be increased significantly.

This also applies to those who receive a widow's pension.

According to this, around 5.3 million people in Germany will benefit from the new regulation.

Earning additional income from the widow's pension - a common misconception will cost you hard cash

If a spouse or life partner dies, the surviving dependent is entitled to a widow's or widower's pension.

Nevertheless, it may be that this is not enough to make a living.

That's why some go to extra work.

But this raises the question for many: How much more money can I earn without fearing negative consequences?

Finally, there is cause for concern that the tax authorities will intervene or that there will even be less money left over than hoped for.

Anyone who has to continue working as a surviving dependent should pay attention to the exemption limit.

© imagebroker/theissen/Imago

Basically, when you reach the statutory retirement age, you can earn unlimited additional income.

However, this does not apply to the survivor's pension, explains the German pension insurance.

If you exceed the corresponding tax-free allowance with your additional income, your pension will be reduced.

Orphans are only allowed to earn unlimited additional income if they meet all other requirements for entitlement to a pension.

However, many do not know this and experience a nasty surprise at the end.

Earning additional income from the widow's pension – note the free contribution limit

The allowance for the survivor's pension is currently EUR 950.93 in western Germany and EUR 937.73 in the new federal states.

The special thing about it: It is linked to the current pension value.

This ensures that it will rise when pensions are increased.

This has also been the case since July 1st of this year.

If you also have children, the allowance for each child of your own increases considerably.

However, anyone who exceeds the exemption limit must expect a so-called income credit for the widow's pension.

No income is taken into account for the first three calendar months after the death of the deceased insured person or life partner or spouse.

After that, it affects all types of income.

Exceptions are needs-based benefits and income from state-subsidised pension contracts, such as the Riester pension.

You can find detailed guidelines on calculating income on the Deutsche Lebensversicherung website.

These nine myths are floating around about retirement

View photo gallery

Source: merkur

All life articles on 2022-08-10

You may like

News/Politics 2022-08-23T11:44:09.845Z
News/Politics 2022-06-09T08:41:26.977Z
Life/Entertain 2022-06-30T14:51:01.630Z
Life/Entertain 2022-08-02T08:23:48.808Z
Life/Entertain 2022-07-26T13:01:22.649Z

Trends 24h

Life/Entertain 2022-09-28T13:48:13.725Z
Life/Entertain 2022-09-28T16:17:56.842Z

Latest

© Communities 2019 - Privacy