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Retirement 2023: Which cohorts will be able to retire this year

2023-03-13T15:18:09.883Z


After a long working life, retirement beckons. But which vintages are in 2023? Answer: It depends - and whether you accept deductions.


After a long working life, retirement beckons.

But which vintages are in 2023?

Answer: It depends - and whether you accept deductions.

Suddenly no longer working and still getting money: for a long time this was possible at 65, but the normal retirement age is gradually rising to 67. And what some fear in the last years of their working life, others cannot expect.

The latter like to apply for their pension for the first day on which this is possible - and this is the case again this year for new cohorts.

Retirement 2023: Which cohorts will be able to retire this year

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This year new pensioners can enjoy their retirement again.

© Design Pics/IMAGO

Basically, when you retire in 2023, you have to differentiate between these three cases:

  • Standard work pension:

    Anyone who turns 66 (and has paid contributions for at least five years) can retire normally in 2023 without deductions.

    This applies to people born in 1957. The exact date of retirement depends on your birthday.

    There is only one exception for New Year's children: Those who celebrated their 66th on January 1st have been able to enjoy their retirement since last December.

  • Retirement pension after 45 years of work:

    Anyone who has paid into the pension fund regularly for so long is considered to be a “particularly long-term insured person” and can collect the full pension earlier – i.e. also without deductions.

    However, the exact requirements of this regulation, previously also referred to as “pension at 63”, are diverse, in 2023 it will amount to a “pension at 64” – that is, by and large, this applies to people born in 1959.

  • Retirement pension after 35 years of work:

    As a "long-term insured person" you can retire at the age of 63 - but then with deductions.

    In 2023, this rule will also apply to those born in 1960 for the first time.

    Those affected can calculate for themselves how much money they would have to do without: "For every month that you retire early, 0.3 percent will be deducted from your pension," explains the German pension insurance.

    The maximum reduction will be 14.4 percent in the future - for those who would actually only receive their standard pension from the age of 67, i.e. say goodbye to the job four years earlier.

Pension fairy tale: "Retirement comes automatically" - nine myths that circulate about the salary in retirement

Pension fairy tale: "Retirement comes automatically" - nine myths that circulate about the salary in retirement

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Above all, those who want to claim their pension before their 66th birthday this year will hardly be able to avoid personal advice from the German pension insurance.

After all: Recently you can earn as much as you want – and can – with part-time jobs without a penalty deduction.

Rubric list image: © Design Pics/IMAGO

Source: merkur

All life articles on 2023-03-13

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