Quitting before retirement - what many future retirees do not know
Created: 01/13/2023 04:59
By: Patricia Huber
Before retiring, employees should definitely check their contract.
Because in many cases a termination is necessary.
Munich – Many people are looking forward to retirement.
But the start of retirement requires a lot of preparation.
Future retirees should check their finances beforehand and apply for their pension from the German Pension Insurance (DRV) in good time.
What many do not consider: Often you have to quit your job before you retire.
Termination before retirement: Note possible clauses in the employment contract
Because termination due to retirement is not always automatic.
To find out which regulation applies, employees should definitely take a look at their employment contract.
Because many employers have a clause in it, whereby the employment relationship automatically ends when the regular retirement age is reached, explains the Social Association Germany (SoVD) on its website.
However, if this clause is missing in the contract, the future pensioner must terminate his employment himself.
The notice period should also be observed.
Strictly speaking, anyone who simply no longer comes to work when they retire is in breach of their contractual obligations.
In the worst case, there could even be legal action.
Our free pension newsletter provides you with all the relevant news on the subject on a regular basis. Here
you can register.
Pension: Anyone who leaves before the standard retirement age must give notice
Also: If you want to retire before reaching the standard retirement age, you must inform your employer about it.
The above clause refers only to the old-age pension.
So if you want to claim the pension for long-term or particularly long-term insured persons, you have to quit your job beforehand.
Of course, only if he does not want to continue working and would like to take advantage of the opportunity to earn additional income.
In this case, however, the employer should be informed about the retirement date, as drawing the pension can have tax implications.
(ph)
