Enjoy life in old age. But without a high pension, this is hard to imagine. How much must earn in working life. © Imago
Enjoy life as a pensioner to the fullest? This requires the highest possible pension. That's what many people want. But what does it take to make the dream come true?
Hamburg – Many employees in Germany often put their dream of living and enjoying themselves on the back burner. After all, there is still time for that in retirement. But even if there is a pension in the form of a basic security, even though you have never worked, the end result is probably not particularly desirable. Despite long hours in the office as a pensioner, not as much as hoped could jump out in the end to enjoy life to the fullest. Because only a few can look back on a pension of over 2000 or even 2500 euros in retirement.
In addition, there are the taxes that are due on the pension or the part of the pension that pensioners have to pay tax on, so that the bottom line is that less ends up in the wallet anyway.
Pension of 2,500 euros per month: How do prospective pensioners reach this mark?
According to the German Pension Insurance, a statistical survey comparing pensions showed that male pensioners in the old federal states received an average of 45 euros in pensions after 1664 years of contributions, while women received only 1220 euros as a pension for their retirement. In the new federal states, men received an average of 1350 euros and women 1286 euros.
In order to get to a pension of 2000 euros to 2500 euros upwards, employees are required to pay in continuously over a long period of time and to earn a relatively large amount. After all, the same applies to pensions as it does to many other things: those who pay in a particularly large amount also get a relatively large amount of money out in the end.
Getting a pension of over 2000 euros: Three factors are decisive for retirement
However, the pension system is capped. This can be seen in the number of pension points to be achieved per year. That figure is determined by the ceiling for the assessment of contributions. Conversely, however, this also means that if you earn more as an employee, you will not receive any additional points for your pension as a pensioner.
The decisive factors for the highest possible pension are salary, contribution years and pension points. For example, if you pay in for a very long time, you have to collect fewer pension points per year than someone who, for example, has studied for a very long time and therefore lacks payment years.
Secure a high pension: This is how employees receive a pension of over 2,000 euros as pensioners
If you want to get a pension of over 3000 euros with an average salary of about 2000 euros gross, you would have to pay into the pension fund for about 70 years, according to a calculation by t-online. A duration that every prospective retiree would like to avoid if he or she still wants to get something out of life after work.
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But how much money do employees really have to earn or save in order to reach 2,000 euros or more in retirement? If you want to secure such a high pension in old age, you have to earn at least 4500 euros gross at the beginning of your working life at the job in order to get to the height and that continuously over 45 years. Unimaginable for many, but with time and corresponding increases in income, you can get to the appropriate pension level for retirement provision.
2500 euros pension per month – employees should make private provision for the time as a pensioner
Apart from above-average earnings, a private pension plan such as the Riester pension or a company pension as a retirement provision may be the key to success. Because with only 40 years of contributions, a man would have to earn more than 5600 euros gross per month over many years to achieve the goal of a high pension. For women with children, or other employees who have fewer contribution years, would have to earn an even higher wage in order to get a pension of 2500 euros a month in retirement.
This makes it all the more important to make clever provisions for retirement in order to retire relaxed. Even though the pension is due to increase this year, there are a few things pensioners should consider in 2023 to settle their inheritance.
