Many retirees want to make ends meet when they retire.
But in order to draw a pension of 2,000 euros, the income must also be correspondingly high.
The amount of the statutory old-age pension is a much-discussed topic in Germany.
A look at the pension notice is often sobering, even though you have been paying into the pension fund for decades.
For many, a pension of 2,000 euros seems to be the minimum to be able to afford the high rents in old age.
But for whom is this even possible?
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Being able to make a good living from your pension in old age – that's what most people want.
For a pension of 2,000 euros, however, they have to earn quite a bit today.
© IMAGO/Frank Hoermann/SVEN SIMON
Monthly pension amount is calculated from the pension formula
The monthly pension amount is calculated from the so-called pension formula, as the
German pension insurance
informs.
The following values are taken into account:
Earning points
Access factor
Current pension value
Pension type factor
The pension formula is:
Monthly pension amount = payment points x access factor x current pension value x pension type factor
The pay points count the most.
These are determined each year based on income.
If your earnings in one year correspond to the average earnings of all citizens, this corresponds to 1 earnings point, for example.
However, the actual pension amount is also influenced by many other factors, such as inflation, unemployment or whether you live in East or West Germany.
You can read more about how the pension amount is calculated here.
How much do I have to earn to get a 2,000 euro pension?
If you want to draw a pension of 2,000 euros in old age, you need at least 60 earnings points.
For this, however, the earnings must be very high at a young age.
For example, Focus Online
calculates
that the average gross monthly income must be at least 4,500 euros – and that for over 45 years.
Only with this earnings is a monthly pension payment of 2,000 euros possible.
For most, such a merit is not even possible.
To do that, you would have to earn around 30 percent more than the average citizen throughout your life.
Experts therefore advise making private provisions as early as possible in order to close the pension gap.
Taxes and duties are still due on the pension anyway, which further reduces the pension payment.
These nine myths are floating around about retirement
These nine myths are floating around about retirement
This is how much pension Germans receive on average
According to the German pension insurance, the statutory average pension (gross) is as follows: In 2020, female policyholders in the old federal states received 783 euros, while male pensioners had 1,138 euros available per month.
In the new federal states, pensioners received significantly more than west German women in 2020 at 1,038 euros.
East German men received 1,071 euros per month.
Further pension increases are planned for the coming year.
List of rubrics: © IMAGO/Frank Hoermann/SVEN SIMON