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The statutory reduced earning capacity pension is intended to compensate for financial losses caused by the premature end of gainful employment. However, the reduction in earning capacity must be medically verifiable. In addition, the insured person must have worked for at least 3 years in the last five years or fulfil a “waiting period”. This form of pension has existed since 1 January 2001 and replaced the former disability pension (EU pension) in the course of the pension reform of 2000.
According to the old regulation, employees were entitled to an occupational disability pension (BU pension) if they were only able to exercise their own occupation to less than 50 per cent due to illness or disability. A disability pension (EU pension) was paid to those who could no longer pursue their occupation at all.
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.