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Early retirees can earn more from 2023 - without their pension being reduced

2022-12-22T15:13:04.043Z


Early retirees can earn more from 2023 – without their pension being reduced Created: 12/22/2022, 4:00 p.m By: Anne Hund In December, the Bundestag decided to abolish the additional earnings limit for early retirement pensions from next year without replacement. From January 2023, early retirees with a part-time job can earn as much as they want without their pension being reduced. Because the


Early retirees can earn more from 2023 – without their pension being reduced

Created: 12/22/2022, 4:00 p.m

By: Anne Hund

In December, the Bundestag decided to abolish the additional earnings limit for early retirement pensions from next year without replacement.

From January 2023, early retirees with a part-time job can earn as much as they want without their pension being reduced.

Because the Bundestag decided at the beginning of December that the additional earnings limit for early retirement pensions should be canceled without replacement from next year.

This was reported by the German Press Agency (dpa).

Pension plus part-time job: additional earnings limit for pensioners will fall from 2023

Early retirees with a part-time job can earn as much as they like from 2023 - without risking a pension reduction.

© Monika Skolimowska/dpa

Which rules have applied so far?

Anyone who draws their pension before the regular retirement age and works part-time still has to pay attention to the additional income limit.

In 2022 and 2021 it was 46,060 as part of the temporary special Corona regulation, as informed by the German pension insurance.

And in 2020 at 44,590.

So far, early retirees have been able to earn that much in addition to their pension in the respective calendar year without risking a pension reduction.

Before the special Corona regulation, which was introduced in 2020 and will apply until the end of 2022, the additional income limit for early retirement pensions was 6,300 euros.

Instead of extending the exemption from the Corona crisis, the limit should now finally be removed from 2023. 

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Improvements also for recipients of the disability pension

By the way, there should also be significant improvements from 2023 for recipients of a disability pension: According to dpa, the additional income limits for recipients of disability pensions will increase “from the current 6,300 euros per year to up to 34,500 euros, depending on the individual case”. 

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Part-time job obliges early retirees to file tax returns

Basically you should know: Irrespective of the additional income limit, the additional income is taxable if the basic tax allowance is exceeded together with the pension, as dpa also described.

In any case, filing a tax return is mandatory.

According to the report, Daniela Karbe-Gessler from the Taxpayers' Association advised that early retirees with a part-time job could also claim travel expenses or costs for work clothes and work equipment as income-related expenses.

In 2023, a number of other changes in the law will come into force, which will affect numerous people in Germany financially, from families to pensioners.

Source: merkur

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