Status: 18.10.2023, 18:45 PM
By: Laura Knops
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The pension information is sent out once a year. It contains all the important facts about your pension: from type and start date to entitlement.
Very few people know how their own pension is calculated and what entitlement senior citizens have. For retirement planning, it is important to understand how high your pension entitlements will be one day. Information on the amounts can be found in the pension information. This is automatically sent to all insured persons once a year by the German Pension Insurance (DRV). The only requirement is that you have already paid contributions to the statutory pension insurance for five years and are at least 27 years old. But many of those affected ask themselves: What information can actually be found on the pension information?
Understanding pension information: What information is available in the annual
Every employee over the age of 27 who has already worked for five years receives pension information once a year. © K. Schmitt/Imago
The pension information of the German Pension Insurance (DRV) is sent out once a year. It contains all the information you need about the pension you are applying for. It is especially important for new pensioners to carefully check all pension information for completeness. Lack of earnings and incorrect figures can lead to pensioners giving away valuable entitlements.
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If you have ever wondered how high your pension is likely to be, you can find information about this in the pension information. In other words, it indicates how much money you can expect to receive in the future. It can also be used to determine whether other provisions should be taken for retirement – such as private pension insurance, shares or saving.
The most important information is summarised briefly and clearly on the first page of the pension information. The following information can be found on the notice:
- Insurance number: Important for any communication with the pension insurance.
- Regional Office: Specifies which contact person is responsible.
- Type of pension: Am I entitled to an old-age pension, a disability pension or a survivor's pension?
- Start of retirement: When will I receive my first pension? And when can I retire without deductions?
- Duration of pension: How long will I receive the pension?
- Calculation of the pension: What time details are taken into account for the pension?
- Insurance: Which type of health and long-term care insurance applies to me?
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Key figures: pension entitlement and reduced earning capacity
The pension entitlement indicates the amount that can be expected so far if the insured person "would continue to earn as before," explains the German Pension Insurance. Another important figure on the pension information indicates the current pension entitlement in the event of a total reduction in earning capacity. If, with immediate effect, insured persons are completely reduced in earning capacity for health reasons, i.e. can no longer work, they will receive this monthly contribution stated there. The pension entitlement submitted so far also shows how much money the person will receive each month in old age if he or she no longer pays a euro into the statutory pension fund from now on. For example, because of self-employment, because someone moves abroad or takes care of the children.
Not everyone is entitled to a pension. If this is the case, the pension information also provides information about the reasons for the rejection, as reported by the Insurance Chamber of Bavaria. If the pension is not approved, those affected can object to it within four weeks. Information on this can be found in the information on legal remedies, which can be found at the end of the decision. If the objection is admissible, a remedial notice will be issued. This is merely a new pension information that contains the corresponding grounds for objection. If the objection is rejected, however, the only remedy is to file a complaint with the Social Court.