Who pays for a nursing home if the pension is not enough?

Currently, about four million people in Germany receive care allowance because they are in need of help. Depending on the care level, the person in need received up to 2005 euros in 2020 in the maximum care level 5. However, the Verband der Ersatzkassen (VDEK) has analysed that up to 1940 euros must be paid additionally for a place in a home. However, since the average statutory pension is only 1360 euros gross, many people in need of care cannot pay for a place in a home out of their own pocket.
In such cases, the difference is covered by the social welfare office if those affected submit an application for “help for care”. One’s own children are only required to pay the additional costs if they earn more than 100,000 euros gross per year.

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.


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