Draw an old-age pension and still continue to work – observe the contractual rules

Created: 01/12/2023 16:27

By: Robin Dittrich

Anyone who is already drawing the regular old-age pension can still continue to work.

However, there are a number of things that need to be taken into account – including contractual rules.

Hamburg – The regular old-age pension usually begins at the age of 65.

In some cases, a pension can even be drawn at the age of 63.

If you receive an additional income in addition to receiving your old-age pension, you can increase your pension in the long term.

Consumers should observe contractual rules.

It is possible to draw a full pension while working

With sharply increased prices for food and energy, the regular old-age pension for pensioners is sometimes not enough to finance their livelihood.

Pensioners can therefore increase their pension with various grants.

It is also possible to continue working while receiving your pension – but contractual rules should be observed.

Anyone who draws the regular old-age pension does not initially have to fear a reduction in their pension if they continue to work.

Unlimited additional income is already possible.

In addition to receiving the pension, you can continue to work – but the employment contract must be observed.

© Steffen Schellhorn/Imago

Since the beginning of 2023, there have also been some advantages for consumers who receive an early retirement pension.

In some cases, you can retire at the age of 63.

To do this, consumers must have been insured in the German pension fund for at least 35 to 45 years.

The pension can then be received in full after the age of 63.

Even those who still pursue a professional activity do not have to expect any deductions.

The contractual regulations must be observed when working alongside the pension

To ensure that the job can continue to be carried out in addition to the fully paid pension, a number of contractual matters should be observed.

According to Martin Stier from anwalt.de, the burden of contributions to statutory social security is reduced – unemployment insurance no longer has to be paid for this.

Only the employer has to pay the contribution to the statutory pension insurance once the old-age pension has been drawn.

For the employee, the amounts paid mean a higher pension, since the employee pays into the pension fund for longer.

If you plan to retire at the age of 63 and still continue to work, you should take a look at your employment contract.

There is often an age exit clause.

If the employee receives an old-age pension, the employment relationship ends at the end of the month.

Martin Stier refers to Paragraph 41 (2) of the Sixth Book of the Social Code: according to old contracts, the employment relationship often ends at the age of 65.

Since this is partly outdated and people can retire earlier, the employment relationship simply ended when they reached the standard retirement age.

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If you discover a retirement clause in your employment contract, you should discuss this with your employer before starting your retirement pension.

New, fixed-term contracts are often then signed.

If this clause is not in the contract, the employment relationship simply continues.

There are various ways to increase your pension.

This includes caring for a family member at home.

The pension can also be increased if you bring up children.

There are also eight pension supplements that many people don't even know about.