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If you have worked full time for 45 years, you cannot retire at the age of 60, as many people believe. It is true: If you have been insured for many years and have paid 45 years of contributions, you can retire at the age of 63 without deductions if you were born in 1952 or earlier. For all birth cohorts after that, the age for a pension without deductions will be adjusted step by step. If you were born in 1964 or later, you will be entitled to a full pension at the age of 65, provided that you have paid 45 years of contributions. If you do not achieve this, you will not be able to retire without deductions until you are 67. For each year earlier, your old-age pension is reduced by 3.6 percent per year.
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.