- In 6 steps to the pension: So it should work smoothly
- Step 1: retirement account clear up
- Step 2: calculate pension leave and use advice
- Step 3: Financial situation probing
- Step 4: With the employer speak
- Step 5: Retirement apply for
- Step 6: On the pension notice wait
- Conclusion: So you can your Use time wisely
Just switch to retirement overnight? You should not imagine the change from working life to be that easy. Either way, prospective retirees have a lot to do before the first retirement money is in the account. In 6 steps can you smoothly in the retirement pass over We introduce them to you.
Step 1: Clarify the pension account
The thought of retirement is always linked to the question: At what age is there a way out of the job? And: How much pension do I actually get? There is a lot of political debate about the retirement age. The legislature has the age limit of 65 raised to 67 years. Employees born in 1964 and later must work until their 67th birthday. Anyone born earlier can retire between the ages of 65 and 66. You can read the exact age limit here. Who on 45 years of contributions can retire earlier (from the age of 63) after the “old-age pension for particularly long-term insured persons”. Total there was Around 858,000 new recipients in 2021who received an old-age pension.
You should pay special attention to your insurance run place. These are the times that you paid into the cash register, which count towards your pension and are worth real money. The employer automatically pays for the pension during periods of employment. Is the information given there correct? If not, you should account clarification in the German Pension Insurance (DRV) apply, this is possible informally at any time.
At the latest with 43 years the insured are automatically requested to do so by the pension insurance. In an account statement, the Pension insurance the entire insurance accountto get one later seamless transition to pension payments to ensure. It may be necessary to close any gaps. Because not all contribution times are transmitted automatically. For example, periods of training, work and child-raising periods, as well as periods when you cared for relatives, do not automatically flow into the pension account. They will only be added upon request. Regardless of an account clarification, there is also the possibility at any time to get a current one insurance history to be sent. The longer you wait to clarify the account, the greater the effort involved in obtaining the evidence. It is possible to use the pension account (also called insurance account) on-line to clarify. The insurance account also includes the social security number, which is important for all contacts with the DRV. Our tip: Account clarification and advice must be initiated at least one year before the start of the pension period. This leaves enough time to close gaps and clarify discrepancies.
Step 2: Have your pension calculated and use advice
How much pension is there? The provides precise information German Pension Insurance (DRV). From the 27th birthday like 31 million other insured persons, you will receive personal pension information year after year with the current status of your accrued pension entitlements. Also, there is one extrapolation about the amount of the expected old-age pension and the Pension entitlements in the event of a possible reduction in earning capacity. This information is particularly interesting from the 55 years of age. The basis is the pension periods documented by the account clarification.
topic could abroad acquired pension periods that are either not recorded or entitle you to draw a pension abroad. The result is the gross pension. Contributions to health and nursing care insurance and any taxes are deducted from it.
Before you apply for a pension, you should once again to advise to let. Around 2,600 insurance consultants there are all over Germany who provide a local, personal connection to the DRV. These services are for the insured free of charge. They help to fill out the pension application, because the application is not easy. They can also provide information on deductions that are incurred if retirement begins earlier, on possible compensation payments and on tax deductibility. The DRV offers a search function for counselors on the Internet. A brochure is also available “Neighborhood Advice”. Likewise there is pension advisorswho charge a fee (200 to 300 euros). Our tip: Use the free advice from the insurance advisor of the DRV (also called the oldest insured person).
Step 3: Sound out your financial situation
At the same time, prospective retirees should make a checkout. What expenses accrue each month? Will something be missing in the future? Lower expenses can arise if travel costs and insurance are eliminated. what is your income The pension is usually much lower than you might expect.
That’s why you have to calculate carefully. On the plus side, in addition to the pension Savings, life insurance, dividends from shares or funds, the Riester pension and company pension schemes.
The expenses are usually known. How much is the rent? Is there property that may be for sale if required? You can then use the sales proceeds to live on. What are the living expenses? Do you have any major purchases or trips planned? Our tip: You should take care of it at least a year in advance, ideally in your early 60s. The data for the pension is then relatively reliable and you can use adjustment mechanisms to prevent financial problems. Anyone expecting larger sums of money – for example from a Riester contract or life insurance – should contact the tax advisor.
Step 4: Talk to the employer
There is no obligation to inform the boss about the planned retirement. Your employer should still know. This is especially useful if you are despite continue working on your pension (Part-time, working as a consultant) or your employer is interested. In times of labor shortage it can be.
The employment relationship does not end automatically, if the employee reaches the standard retirement age. If you want to retire, you have to fire or one termination agreement sign.
As a prospective pensioner, you are not entitled to Christmas bonus, if you retire before December 1st of any year. However, if you remain employed up to and including December and only retire in January of the following year, you will receive the Christmas bonus and do not have to pay it back. Our tip: Only when everything has been clarified with the DRV should you talk to your employer. The meeting date should be before the termination.
Step 5: Apply for a pension
Prospective retirees must have one formal request on Old Age Pension (R0100) so that the money flows as quickly and directly as possible after leaving the company. The preparations are relatively simple if that insurance account has already been clarified.
The DRV recommends that pension application at least six calendar months before the start of the pension. But: It is possible, the pension too three months to apply retrospectively. Then the money only flows later and you need a financial cushion to bridge the time.
You can apply for a pension online at Download DRV. You must then either send the completed, signed R0100 to the pension insurance agency (DRV) by post or hand it in to one of the local advice centers. For the pension application, the pension insurance number, information on the health insurance company, ID card, tax ID and IBAN for the recipient account are required in any case.
Step 6: Wait for the pension notice
Usually it takes three monthsuntil the pension insurance has checked and processed your pension application. You are sure to have your pension as soon as the pension notice is in the mailbox. After that, prospective retirees can say goodbye with peace of mind.
The pension notice contains all the important information:
- pension type: What pension do I get? (Retirement pension, disability pension, survivor’s pension)
- pension amount: How much do I get every month?
- Start of retirement: When will I receive my first payment?
- pension period: How long will I receive the pension?
- Pension calculation: Which periods are taken into account when calculating my pension?
- Insurance: How do I have health and nursing care insurance?
The pension notice has arrived and the first pension payment on the account: the new phase of life can begin. Suggestions for your retirement: study for seniors, do sports, start volunteer work, part-time job, travel, family and friends.
Our tip: The pension notice should be there about a month before the start of retirement. If not, be sure to follow up.
Conclusion
A new phase of life has begun, which you should not dally on but actively shape. Give structure to your everyday life: Even an afternoon walk structures the day. A daily schedule can also help. Enjoy the amount of time you have. Now you can do all the things that used to get lost in everyday life.
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