Retiring without financial worries – many Germans dream of that.
However, if you want to draw a statutory pension of 1800 euros, you have to earn well and for a long time.
Munich – 1800 euros pension – many retirees can only dream of that: According to the first data from the German pension insurance, the average pension in 2022 was much lower – at 1152 euros.
Net pensions in Germany increased last year more than they had in years.
Nevertheless, you have to earn well and for a long time and pay into the German pension insurance in order to get a statutory pension of 1800 euros per month.
1800 euros pension: why pay points are so important
Calculating how much you have to earn for a 1800 euro pension is not that easy.
Pay points, also known as pension points, play an important role here.
Employees automatically collect these every year during their working life by paying part of their gross salary into the pension fund.
How many pension points you then receive per year of work depends on two factors: your own income and the average salary, which is recalculated every year.
In 2022, the provisional average wage was 38,901 euros.
So if you earned that much in 2022, you got exactly one pension point.
This is how the future pension can be estimated
How many pension points you have accumulated over the course of your working life determines how much pension you will receive later.
For example, if you have earned the respective average salary for 45 years, you have collected 45 pension points.
This allows the future pension amount to be estimated using the formula of the German pension insurance:
Pay points x current pension value x pension type factor x access factor = monthly pension amount
Anyone who receives the classic old-age pension and retires at the standard retirement age can leave out the last two factors in the calculations.
The pension value refers to the differences between East and West.
It is currently EUR 36.02 for the old federal states and EUR 35.52 for the new federal states.
According to the pension estimator, whoever has 45 earnings points comes to 1,598 euros.
1800 euros pension: you have to earn that much
It is also possible to calculate how to get a pension of 1800 euros (before taxes): around 50 payment points are needed for this.
This means that you either have to have earned exactly the average salary for 50 years and only retire at an advanced age - or you have earned above average for 45 years of work.
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According to calculations by
focus.de,
the salary would then have to be between around 3600 and 4000 euros in each working year - and that is hardly achievable, especially for young professionals.
It is therefore becoming increasingly important to make private provision for old age and not to rely solely on the statutory pension.