Next stage for retirement at 67 begins!
Next stage for retirement at 67 begins!
In 2024, those born in 1959 will reach the age of 65 and thus approach the previous statutory retirement age. However, since the introduction of "retirement at 67" in 2012, the standard retirement age has been gradually raised. This particularly affects the generations now looking to retire.
Standard retirement pension
Since 2012, the retirement age has been gradually increased from 65 to 67. Initially by one month per birth year, and from 2024 by two months per birth year. The 1946 birth year was the last to retire at 65 without deductions. From the 1947 birth year, the retirement start was delayed by one month each year.
Example: Someone born on 15 February 1947 could not receive their pension from 1 March 2012, but only from 1 April 2012 without deductions.
Currently (from 2024): Those born in 1959, reaching the age of 65 in 2024, must now work 14 months longer to receive the statutory pension without deductions. This increase applies until the final standard retirement age of 67.
Pension for those with particularly long insurance periods
Since 1 July 2014, insured persons with 45 contribution years can retire at 63 without deductions. However, this age limit is gradually being raised to 65 for those born between 1953 and 1964.
Example: Those born in 1961 will turn 63 in 2024. If they have completed 45 contribution years, they can receive their pension at 63 years and 18 months, i.e., at 64 years and 6 months. From the 1964 birth year, the deduction-free pension is only possible at 65.
Pension for those with long insurance periods
Those with 35 contribution years can retire early at 63 but must accept deductions. These deductions are permanently 0.3% per month the pension starts before the standard retirement age.
Example: Those born in 1961 can apply for the retirement pension at 63 in 2024 but must accept a lifelong deduction of 12.6%.
Disability pension
Disabled persons with at least 35 insurance years are entitled to a deduction-free retirement pension. Here too, the retirement age is gradually being raised:
- Born in 1960: Pension without deductions at 64 years and 4 months.
- Born in 1961: Pension without deductions at 64 years and 6 months.
- Born in 1963: Pension without deductions at 64 years and 6 months, with an early retirement from 61 years and 10 months incurring a deduction of 10.8%.
Protection of legitimate expectations:
Those born before 1 January 1964, who were disabled on 1 January 2007 and received adjustment payments from mining, can still retire at 63 without deductions. With a deduction of 10.8%, this pension can be received from 60.
Reduced earning capacity pension
In the case of full reduced earning capacity, retirement before the standard retirement age is possible, but with deductions. These are 0.3% per month, but a maximum of 10.8%. Since 1 January 2019, the so-called credit period for reduced earning capacity pensions has been extended. It ends at 65 years and 8 months for a pension start in 2024 and will be gradually raised to 67 by 2031.
Note: The improvements only apply to new reduced earning capacity pensions from 1 January 2019. Older pensions will not be recalculated.
Widow's or widower's pension
The age limit for the large widow's or widower's pension is being gradually raised from 45 to 47 by 2029. In the event of a death in 2024, the age limit is 46 years and 2 months. The large widow's or widower's pension amounts to 60% of the deceased spouse's retirement pension. Below this age limit, only the small widow's or widower's pension is available, which is 25% of the deceased partner's retirement pension.
Pension taxation
Pension taxation is also increasing. For pensions starting in 2024, the taxable portion of the pension is 83%. The fixed personal pension allowance remains unchanged from the third year of retirement. From this point, the pension is fully taxed after deducting the allowance and the 102 Euro income-related expenses allowance.
