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The amount of the pension depends on the number of years of contributions and the gross salary. As a general rule, a statutory occupational disability pension amounts to about 17 percent of the previous gross salary. However, only all persons born before 1 January 1961 who are insured under the statutory pension scheme are entitled to state occupational disability insurance.
For all those born after that date, the reduced earning capacity pension or EM pension applies. Consumer advocates strongly recommend that the latter group in particular take out private occupational disability insurance if they do not want to lose out on their standard of living significantly in the event of an occupational disability.
At Horizon65 we can help you to determine if company pensions are worth it for you by using our mobile app to simulate its effect on your future taking into your existing investments and potential impact of inflation and taxation.
We regularly help our clients by comparing all the available company pension products on the market using our comparison portal or you can also directly get in touch with our experts to understand if it can be a good option for you.