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The pension amount in the statutory pension insurance (GRV) depends on the contributions you have paid in, the length of time you have paid in and your retirement age. However, there is a maximum possible pension amount, as your contributions are capped.
The average basic pension in Germany is less than 1,500 euros per month.
If you had paid the maximum contribution into the pension fund for 45 years (2022 in West Germany: 7,050 euros, in East Germany: 6,750 euros), you would receive 3,290 euros (West) or 3,150 euros (East) per month.
The pension gap is therefore large for many Germans. That’s why you should plan a private pension early on and save for your retirement. A pension planner is helpful here. This way you can quickly find out how much you should invest in your private pension provision in order to have a carefree retirement. Suitable investments in addition to the statutory basic pension include ETFs, a Rürup pension or pension funds. You can even save taxes with your pension contributions.
If you want to understand what you can expect from the german state pension than you can calculate it accurately with our mobile app.
You can also simulate any potential investments in the app that you could make to supplement the state pension.