The legislature allows by law to Employ pension the insured to take early retirement. There are basically two models:

  • The old-age pension for especially long-term Insured persons with 45 years of insurance (so-called “pension with 63”) – pension, the insured can go without their Pensions in retirement.
  • The old-age pension for years Insured with 35 years of insurance . Who chooses this variant, suffers a loss in his monthly pension.

In both variants, the following applies: Who uses them, does not have to work up to the so-called age limit. This is for the Vintage 1955 at 65 years and 8 months. Who was born in 1955, is able to take in the course of the year, to 2020 to its regular pension (“rule old-age pension”). In the case of the above-mentioned possibilities lead to the fact that someone can go before his standard age of retirement.

Each month the early retirement costs of 0.3 percent

However, the age limit for retirement without discount increases continuously. The later a Worker is born, the later, he may use the early retirement without penalty. Deutsche Rentenversicherung

don’t lose Who meets the requirements of 45 years of Insurance, of money in monthly pension payments. Per month of premature Retirement costs 0.3 percent of the pension.


  • The Vintage 1958 may go with the 66 years of the tee-free pension.
  • Who was the retirement of six months, prefer, monthly, waive and 1.8 percent pension (6 x 0.3 percent).
  • In the case of a pension of 1000 Euro, the losses amount to 18 euros per month.
  • In the case of a pension period of 20 years the amount adds up to 4320 euros – excluding future pension increases, which increase the Minus still increases. So much money you get at the age click Here for pensions calculator

pension at 63, there were only two years,

of 63 was politically contested very. It was, however, only for the two birth cohorts 1951 and 1952. Later-Born need to work longer to be able to tee in early retirement. For all Born in 1965, the discount starts free early retirement with 65 years. As a rule of thumb, the following applies: The deduction-free early retirement always begins two years prior to the rule old-age pension, which is raised gradually to 67 years. DRV

Not getting the only compulsory insurance years relevant

the required 45 years of Insurance may be added to future early retirees different times to their years of contribution to the pension Fund – for example, periods of sickness or short-time working money. This point is particularly important for the currently about seven million employees, as a result of the Corona-crisis in short-time work. Everything you know about your pension

Our PDF guide explains on 100 pages the answers to all the important questions around the topic of retirement. Plus 58 Pages Of Forms.

PDF guide

What is the 45 years of insurance:

  • compulsory contributions for an insured employment or activity
  • short-time working money
  • education of children up to 10. The age of a child
  • military service
  • care of other (non-commercial)
  • transfer money
  • sick or injured money
  • children’s hospital of money
  • pay-replacement benefits such as unemployment benefit, if it is a duty of contribution or periods is
  • substitute periods (e.g., political imprisonment in the GDR)
  • Voluntary contributions, if at least 18 years of compulsory contributions are in place. This does not apply, however, in the last two years prior to the commencement of the Pension, if at the same time crediting times are not available due to unemployment.

What not includes:

  • education
  • specialist school
  • high school
  • times of receipt of unemployment assistance or unemployment benefit II
  • times from a pension splitting or pension sharing in divorce

Example: With so much pension an employee count

can be used to calculate the experts of The “Stiftung Warentest” with the help of a fictitious employee, which amounts he can expect in retirement.

assumptions: in January, 1958-born employee in the public service since he was 19. Birthday in 1977, operates continuously, and contributions in the pension insurance pays. He earned a quarter more than the average of the pension insured persons. His annual income is 50.689 Euro, while the so-called average pay from 1. July 2020 can be achieved exactly 40.551 Euro. Retirement at 63: How does it work? Our PDF guide shows you how you can retire early can go and still have the full amount received.To the PDF guide

As long the age of the Insured, the employee, with 64 years tee can go free in retirement. According to today’s values, he refers to 1923, the Euro gross monthly pension.

he Saddles two years and working until the standard retirement age, he comes to 2009 euros, 86 euros more. The reason is that The employee will pay longer and acquire higher pension entitlements. Stiftung Warentest

With views of the entire retirement time, the following applies: For especially long-term Insured, it is worthwhile to work until the standard retirement age more. As a rule, the retiree no longer is receiving a pension as an early retiree with a long insurance period, i.e. 45 years, the experts of the “Stiftung Warentest”.

A year on pension wait pays off

Otherwise the decision between a shortened provides for early retirement at 63 and the later the beginning of the unreduced early retirement benefits, after 45 years of insurance. Who gets the times together, can pension superior, up to the full morning to work through.

Financially, the worth. The pattern of pensioner, 63, only 1677 euros gross pension. He works only a year longer, he gets up with 64 as particularly long the age of the Insured on a monthly basis in 1923, the Euro. Month-to-month so 246 euros more, for a lifetime. The pattern of pensioner draws his pension for 20 years, adds up to the amount of a good 59.000 Euro gross.

The original article can be found in the “Stiftung Warentest”. #Corona care: poverty in old age – senior help makes life at the very Minimum, a life worth living FOCUS Online #corona care: poverty in old age – senior help makes life at the very Minimum, a life worth living

More about retirement and money:

  • rate of pay for parents and tax breaks: the Federal Council will decide today about it

The Federal Council has voted for the wage rate claim of parents in the Corona-crisis. But employees in short-time working, are supported by the state – there should be a tax relief.

  • VAT: As you now from the VAT.-Reduction in benefit and money

Germany will save the VAT reduces welfare, starting in July. The Grand coalition has decided on a economic the help of a special kind. What are the effects, who can now save.

  • Federal Council agrees pension adjustment – Now officially retired from July, more than 50 Euro in addition

The approximately 21 million pensioners in Germany get more money starting in July. On Friday, the Federal Council has agreed in Berlin in the regulation of the Federal government for a pension increase. In the FOCUS Online In the