Retirement
Retirement is the state in which a person finds themselves at the end of their working life.
When you retire, you no longer receive a salary but draw your pension from the statutory pension insurance scheme. Of course, there is also the option of private pension provision.
Civil servants do not receive a pension, but a pension.
Retirement: The retirement age
In general, there are retirement ages set by the legislator for the various old-age pensions. However, the pension can also be applied for before or even after the retirement age has been reached. If you want to retire earlier, you will have to accept deductions. The following aspects are usually decisive for retirement:
- Pension entitlements already acquired
- State of health
- Private & professional situation
Age limit
Those born in 1964 and later retire at the age of 67. For employees born before this age, the retirement age is 65.
However, as mentioned above, it is also possible to retire earlier. This is called early retirement. This is the period between the end of employment and the statutory pension.
Exceptions to the retirement age of 67
The retirement age has not been raised to 67 for all insured persons. There are some old-age pensions that are exempt from this. However, higher entry ages will also apply to them in future.
The following groups of people have a lower retirement age than 67:
- Long-term insured persons: Those who have been insured for at least 45 years and have reached the relevant age limit are entitled to an old-age pension for particularly long-term insured persons.
- Severely disabled people: An old-age pension without deductions for severely disabled people was gradually raised from the age of 63 to 65.
- Miners who worked underground for many years: The following applies here: The insured persons concerned who were born after December 31, 1951 can retire from the age of 62.
