As of: February 5, 2024, 7:56 p.m
By: Karolin Schaefer
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Those who retire earlier often have to expect large deductions.
But under certain conditions you can collect pension and salary without deductions.
Bremen – With the so-called flexi pension, pensioners do not have to stop working, but can make the transition from working life to retirement flexibly.
Many people are probably familiar with the idea of “retiring at 63”.
It is not a type of pension, but rather a colloquial term.
It allows employees to retire early.
Full pension and salary without deductions?
Thats how it works
However, this is only possible without deductions for those who have been insured for a particularly long time, who have worked for at least 45 years and have reached a corresponding age.
If you were born before 1953, you can retire without deductions at the age of 63.
Everyone who was born later must prepare for a gradual increase in the entry age from 63 to 65 years.
If you continue to work, you can retire early and earn some extra money.
There is no need to worry that the activity will deduct something from your pension.
Since last year, the additional earnings limit for early retirement pensions has been removed.
Pension recipients can earn as much extra as they want.
Working in retirement: When a partial pension can be worthwhile
At the same time, the pension can also be increased somewhat by paying into the pension insurance.
There is then a bonus from the state.
There is an additional 0.5 percentage points for each month that you continue to work after your retirement begins.
Accordingly, the old-age pension increases by six percent after one year.
The extent to which the secondary activity is worthwhile from a tax perspective must be considered individually.
Pensioners have to submit a tax return as soon as their income exceeds the basic tax allowance.
However, you can also only apply for part of the pension.
“The portion of the partial pension can be chosen arbitrarily for old-age pensions, as long as it is at least 10 percent or a maximum of 99.99 percent of the full pension,” says the German Pension Insurance.
Anyone who has been insured for a particularly long time and applies for 99.99 percent of the pension at the age of 63 will no longer have a full pension, but will receive additional benefits.
With a trick you can collect your full pension and salary.
© Klaus W. Schmidt/imago
According to the Institute for the Training of Works Councils (ifb), partial pensioners are entitled to sickness benefit, unemployment benefit and short-time work benefits, while full pensioners are not.
It can therefore be worthwhile to accept a slightly lower pension per month, but to be covered in addition to the pension in the event of a long-term illness.
Retiring early with discounts: What you should pay attention to
But that's not worth it for everyone.
Anyone who retires early after 35 years of contributions must expect high deductions.
This loss may no longer be able to be compensated for with work.
0.3 percent is deducted for each month that the pension begins earlier - a maximum of 14.4 percent.
The deduction remains even after you reach retirement age.
Financial expert Barbara Sternberger-Frey explained in the
SWR
program “Marktcheck” that if you retire early, you can only claim part of your pension.
Deductions will then be due for this part, but not for the remaining pension.
Ultimately, when retirement is most worthwhile for whom must always be decided individually.
Meanwhile, a soon-to-be-retired person is looking for valuable savings tips online.