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Anyone who can prove 45 years of pension insurance with the German pension insurance is considered to have been insured for a particularly long time and can retire earlier without deductions. But are there really no disadvantages? We want to shed light on and answer this question in this article.
Retire at 63?
This early retirement pension for those who have been insured for a particularly long time was known as the “pension at 63”. That is no longer the case today. However, the following still applies: 45 years of insurance entitle you to retire two years earlier without deductions.
Anyone born in 1952 can still claim the old-age pension for those who have been insured for a particularly long time at the age of 63. This age will then be gradually increased until the age limit for those born in 1964 of 65 years is reached.
What’s the disadvantage?
Retiring two years earlier without any deductions sounds good at first. But this also means that you pay two fewer years into your retirement account.
Even without deductions, your pension will be lower than if you retired two years later. But that’s the only disadvantage.
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Which times are taken into account?
The pension insurance counts the following as the waiting period, which is taken into account for those who have been insured for a particularly long time:
The compulsory contributions for employment or self-employment as well as payments
for mini-jobs, together with your employer. Attention: If the employer alone pays the contributions for mini-jobs, this will only be taken into account proportionately.
Crediting without contributions made
Times in which those affected were unable to pay pension insurance contributions are also taken into account as waiting periods. These include illness, pregnancy, schooling and studying.
Raising children and illness are considered waiting periods
The following are taken into account: compulsory contributions and raising a child up to their 10th birthday.
Periods of non-commercial care, as well as military and community service. Social benefits such as health insurance are also taken into account.
Does unemployment count as a waiting period for people who have been insured for a particularly long time?
Unemployment benefit in the last two years before retirement only counts as a waiting period if the reason for the unemployment was insolvency or business closure. Replacement times are also taken into account, for example political persecution in the GDR.
Do voluntary contributions apply to the waiting period?
Voluntary contributions to pension insurance are only taken into account in the old-age pension for those who have been insured for a particularly long time if compulsory contributions have been made for at least 18 years.
What is not taken into account?
However, compulsory contributions due to unemployment benefit II / citizen’s benefit / Hartz IV or previous unemployment benefit are not counted towards the waiting time.
Times that arise from a pension equalization after a divorce also do not play a role in the waiting period, and this also applies to pension splitting for married couples and in registered civil partnerships.
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Dr. Utz Anhalt is an author, journalist, social law expert and historian. In 2000 he completed a Magister Artium (MA) in history and politics at the University of Hanover. His focus is on social law and social policy. He was a research assistant on documentaries for ZDF, History Channel, Pro7, NTV, MTV, Sat1.
