As of: March 15, 2024, 2:00 p.m
By: Carmen Mörwald
Comments
Press
Split
Thoughts about retirement often trigger financial worries.
Rightly so, because even 1,800 euros gross requires many years of work or high earnings.
Frankfurt - Well, can you answer the question about the average pension in Germany after Green Party leader Ricarda Lang couldn't in Markus Lanz's show?
In fact, the average pension is just 1,550 euros gross, as the German Pension Insurance reports in its current Pension Atlas 2023.
However, you have to pay into the pension fund for at least 35 years.
In order to relieve the burden on future retirees, pensions are to be increased in the summer of 2024, taking wage developments into account.
Nevertheless, according to an evaluation by the Federal Ministry of Labor, almost half of all employees will probably only receive a monthly pension of 1,500 euros.
In order to achieve a dream value of 1,800 per month, the salary must first and foremost be right.
Is a pension of 1800 euros possible?
This is how it is calculated
But how much do you have to earn to get a statutory pension of 1,800 euros per month?
A pension formula can help to calculate the individual amount.
A brochure from the German Pension Insurance explains that it is made up of earnings points, the access factor, the current pension value and the pension type factor.
The result of the calculation is the monthly pension amount.
Pension formula for old-age pension:
Monthly pension amount = earnings points x access factor x current pension value x pension type factor
For this purpose, the annual wage is set in relation to the average wage of all employees.
This results in the pay point value.
The access factor takes into account discounts or surcharges that arise from the time of retirement.
The amount due per earnings point is determined by the pension value.
The pension type factor refers to the type of pension claimed.
Pension type |
factor |
Pensions due to old age |
1.0 |
Pensions due to partial disability |
0.5 |
Pensions due to total disability |
1.0 |
Childcare pensions |
1.0 |
Small widows' and widowers' pensions |
1.0 |
After the “death quarter” |
0.25 |
Large widows' and widowers' pensions |
1.0 |
After the “death quarter” |
0.55 |
Half-orphan pensions |
0.1 |
Orphan's pensions |
0.2 |
Source: German pension insurance
Anyone who receives the classic old-age pension and retires at the standard retirement age can leave the last two factors out of the calculations.
The pension value refers to the differences between East and West.
It is currently 36.02 euros for the old federal states and 35.52 euros for the new federal states.
My news
No longer available: Aldi is taking the entire product category off its shelves
58 mins ago
Worldwide disruption at McDonald's: Customers complain about "total failure", fast food giant provides first explanation
Urgent cheese recall started: Manufacturer warns of bleeding and serious kidney complicationsread
“Battery rain” hits cars: Who bears the costs? read
These three public programs will soon disappear from cable network reading
Still in 2024: Every car must have this box on board
Pension of 1,800 euros per month – salary points are decisive
In order to get a pension of 1,800 euros per month, the salary points are crucial.
These are determined for each year in which contributions were paid.
Your own earnings taken into account are divided by the average earnings of all employees, which results in the earnings points for the respective year.
The points for the entire time are then added together.
A pension of 1,800 euros per month is a dream for many people.
© Uwe Umstätter / Imago
An example: If the insured salary is half of the average salary of all employees, this results in a value of 0.5 salary points.
However, if you earn 1.5 times the average salary, it is 1.5 salary points.
Since the salary usually increases with increasing age and professional experience, the salary points increase steadily over time.
The amount of the future statutory pension is increasing.
Example calculation: This is how you get a monthly pension of 1,800 euros
To get to 1,800 euros gross per month, around 50 pay points are needed.
Conversely, this means that you have to earn exactly the average salary for 50 years and only receive a pension when you are old.
Or you earn above average in 45 years.
According to calculations by
focus.de,
in this case the salary would have to be between 3,600 and 4,000 euros per working year.
These numbers give little cause for celebration.
Even if pensions are adjusted annually to reflect wage developments in the country, this is unlikely to eradicate increasing poverty in old age.
According to the Federal Ministry for Family Affairs, a total of 22.4 percent of the population aged 80 and older was affected by poverty in 2021.
Those affected received an income of a maximum of 1,167 euros per month.
(cln)