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Withdrawal from the EU: What Brexit means for retirement – finances

Berlin (dpa / tmn) – The exit of the United Kingdom from the EU <!––> has no effect on pension entitlements that have already been earned. This is pointed out by the German Pension Insurance Association in Berlin.

That means: Brexit will not change anything for everyone who draws a pension taking into account German or EU member state and British insurance periods. Pension entitlements that arose up to December 31, 2020 remain.

For future pension claims of insured persons who have acquired insurance periods in Germany or another EU country and in the United Kingdom by December 31, 2020, trust and grandfathering regulations apply.

According to this, the periods of employment completed in the federal states can still be added up for pension entitlements in order to meet the minimum insurance periods required in the respective state, e.g. in Germany 35 years for the old-age pension for long-term insured persons aged 63 and over.If the requirements for a pension are met, then pays in principle each country the performance from the times covered there.

EU law continues to apply to insured persons who were and still have an insurance relationship in Germany, another EU country and the UK before January 1, 2021. In these cases, future periods of employment can also be added up for later pension entitlements. However, this only applies as long as the insurance or contractual relationship is not terminated.

For insured persons who are only insured in an EU country or the UK from January 1, 2021, the new trade and cooperation agreement applies exclusively. According to this, German and British times completed from January 2021 and also other EU member states are to be added together for a pension entitlement in the future.

© dpa-infocom, dpa: 210210-99-381341 / 2


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