Pension: Millions of employers will soon receive an important letter - you have to do that

Berlin
All employees receive an annual pension letter. The annual report should be well checked and kept. What do you have to pay attention to?

Once a year, employees receive mail from their Employer: the so-called annual report for the pension. The letter should arrive by early April and is important: it can decide how much pension you get later. Therefore, you should definitely read the document test. But what do you have to pay attention to?

Annual pension report: What is it actually?

With the annual report, the place of workthat your own work performance was also reported to the pension insurance. It says, for example, how long you have been working for the company and how much you earn. The employer copies the report and sends it to his employees. If Mistake are on paper, there could be less money in old age.

Why is the pension letter important?

The pension letter is an important part of retirement planning. Here are some reasons why a retirement letter is important:

Transparency: The pension letter gives you an overview of your previous pension entitlements and shows you how much pension you can expect when you retire.
Planning security: With the pension letter, you can better plan your retirement provision and, if necessary, take further measures to increase your pension.
Protection: The pension letter also shows you what benefits you can expect in the event of a reduction in earning capacity or incapacity to work.
Availability: The pension letter is available to you at all times and can also serve as proof of pension entitlements.

With the check, you can ensure that you are financially secure in old age and can maintain your standard of living in retirement.

Check the pension letter – this is how it works:

So you should be good at writing take off and don’t lose it if you ask about it again years later. It is also advisable to use the information provided by the annual report to check – that says the “German Pension Insurance Association” on their website. What data should you look at?

Is the insurance number and name correct? The insurance number is on the top right of the paper. It must match the number on your social security card.
How long have you been working for the company? Is the period specified correctly?
The health insurance on the slip must be correct. The name of the cash register is usually in large letters on the right side of the page and can hardly be overlooked. The term “contribution group KV” hides whether it is a private or statutory health insurance company. The 0 stands for statutory insurance, the 1 for private health insurance.
Is the salary or wage level correct? The earnings are indicated on the slip as “Remuneration in euros”.
Has the correct occupation been entered under “Person group code”? Next to a three-digit number you can read what you are employed as. For example, it says: “106 working students” – SV-oblige” stands for employees who are subject to social security contributions and have no special characteristics.

Annual letter for the pension: What do I do if I make a mistake?

System	The statutory pension works according to the principle of equivalence and solidarity.
annuity types	Basic, disability and survivor’s pension
exceptions	The self-employed and freelancers are generally exempt from compulsory insurance.
financing	The statutory pension in Germany is generally financed on a pay-as-you-go basis.
Problems	The underfunding results mainly from the increasingly aging population in Germany.
Three pillars	Old-age provision in Germany includes statutory, company and private old-age provision.
Origin	The statutory pension was officially introduced on July 22, 1889 under Chancellor Otto von Bismarck.

who one Mistake discovered, should report directly to the employer or the health insurance company – the information must be corrected. If something seems strange or if you need help checking the annual report, you can also contact the employees of the German pension insurance on the free service number 0800 1000 4800. (emi)