"How much pension do I get?"

You will receive the earnings points in the course of your professional life

• The principles for calculating the earnings points are set out in Section 66 SGB VI (Sixth Book of the Social Code).
• The personal earnings points are determined on the basis of the average gross annual earnings of the insured. In 2011 this was 30,268 euros (old federal states) or 26,484 (new federal states). If the gross annual salary of the insured corresponds exactly to this value, the statutory awards pension insurance for this exactly one pay point. An employee who earned only half of this gross annual salary therefore only receives the percentage - namely half a point of remuneration for the corresponding year.
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• The amount of the average gross annual salary of the insured is set anew every year, what means that the comparison with your personal gross income for that year should be carried out for each year is. In this way, your personal earnings points add up over the course of your professional life.
• In addition, you will be credited with child-rearing periods. For children born before 1992, 0.0833 earnings points are credited over a period of 12 months, which corresponds to exactly one earnings point in total. For children born after 1992, the period is actually 36 months, so that a total of 3 earnings points are credited.
• In addition, up to 2005 new retirees received a bonus for their training periods.


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Calculate how much pension you can expect

• at Retirement the collected earnings points are calculated and added for each professional year.
• The personal pension amount is the product of the total number of earnings points, the access factor, the pension type factor and the current pension value.
• The access factor causes access or Discounts on the monthly pensionif the insured is earlier or retires later than the statutory retirement age allows. As a rule, this factor is 1.00. If the insured person draws the pension early, this factor is reduced by 0.003 for each month of the early draw. Conversely, every additional month that the insured person works after reaching the standard retirement age increases the factor by 0.005.
• The pension type factor controls the amount of the pension to be paid out. This ensures that the Retirement pension is higher than, for example, the Disability pension or the survivor's pension. This factor is 1.00 for the old-age pension, the pension for full disability and the pension for incapacity for work. A pension for partial reduced earning capacity is calculated with a factor of 0.50 and a pension for occupational disability is calculated with a factor of 0.67.
• The current pension value is € 28.07 per earnings point (old federal states) or € 24.92 (new federal states).
• If, for example, you have accumulated 45 earnings points in the course of your professional life, you can at Entry into the old-age pension is normally 45 x 1.00 x 1.00 x 28.07 € = 1,263.15 € per month calculate.
• You will receive the exact number of your collected earnings points and the benefits to be expected from the statutory pension insurance every two years.