What is the official retirement age

Retirement age: when you can retire

When can i retire? Many people are concerned with this question. In fact, it's not that difficult to answer. We'll show you what exactly the retirement age depends on.

Everyone who is in professional life will sooner or later ask themselves: When can I retire? The answer is simple: it depends on your vintage. While people who were born before 1947 could still retire at the age of 65, the higher applies to all those born after 1964 Standard retirement age of 67 years.

This is the age at which you can retire without a discount on your pension payments. Therefore the age limit does not match the actual oneRetirement age equate. Because that is the age at which you really retire - and it can be before or after the regular retirement age.

But how high are the discounts that I have to accept on my pension payments if I want to retire earlier? Do I get a supplement to my pension if I do not retire until after my age limit? And will the age limit continue to rise? t-online.de answers the most important questions about retirement.

When can i retire?

There is no general answer to when you can retire. You must have reached a certain age in order to be able to draw an old-age pension without having to accept deductions (see below). This individual age is also called Standard retirement age. Where exactly this is for you depends on the year in which you were born.

On reaching the age of 67, the monthly pension is paid out to everyone born after 1964. For employees born before January 1, 1947, the pension still applies at the age of 65. A staggered regulation applies to all cohorts in between.

In this table you will find the exact graduation:

There is also another important requirement: You must have paid into the statutory pension insurance for at least five years in order to receive an old-age pension at all.

Can I retire before the age limit?

Yes, you can do that. But then you have to accept high discounts. Per month you before the Standard retirement age retire, you must deduct 0.3 percent of your pension payment. If you retire a year earlier than normal, there is already a discount of 3.6 percent - permanently.

The discounts can add up to a maximum of 14.4 percent. That would be if you retired four years before the regular retirement age. However, there is no provision for an even earlier retirement age.

You can only retire without a deduction if you have paid contributions for at least 45 years. Then you can use the so-called Pension for particularly long-term insured persons apply for. This is also commonly referred to as Pension at 63 designated.

People who have paid contributions for at least 35 years but not 45 years can also retire earlier. This is the so-called Pension for long-term insured persons. In contrast to retirement at 63, however, you also have to accept discounts here.

Can women retire at the age of 60?

No, now that is usually no longer possible. Until 2017, women could retire at the age of 60 - but only at a high discount. To do this, they had to meet three conditions:

  • Year of birth before 1952
  • have paid contributions for at least 15 years, ten of which had to be after the age of 40

But this model has now expired. Now there are no longer any special rules for women when they retire.

How can I calculate my retirement age?

In order to determine your earliest and regular retirement ages, it is best to use the calculator from the German Pension Insurance (DRV). You can find it here. All you have to do is enter your date of birth and answer the question about a severe disability or a job in mining. Because that too can have an impact on the retirement age.

The Retirement calculator then shows you both the earliest possible retirement age with deductions, i.e. four years before the standard retirement age, as well as the regular retirement age.

You can then use the calculator to calculate your pension amount. To do this, you have to provide further information, which you can find in the pension information.

Note: The information from the retirement and the Pension amount calculator are not legally binding. This means that both the legal situation and your personal life situation can change. This can also affect your retirement age and the amount of your pension.

Can I still retire after reaching retirement age?

That's fine. You can continue to work and pay contributions beyond the traditional retirement age. In this case, you will receive a supplement on your pension.

This is 0.5 percent per month that you work longer. So that would add up to six percent if you worked a year longer.

Is the retirement from 70 realistic?

Yes. What has been discussed in politics for years, namely gradually increasing the standard retirement age to 70 years or more, could become a reality. There are two main reasons for this:

  1. Demographic change: Life expectancy is increasing in Germany, but the birth rate has been falling for years. As a result, there are fewer and fewer contributors for more and more retirees.
  2. Skilled labor shortage: There is often a shortage of skilled workers at the moment. Demographic change is making the problem even worse. To compensate for this, a higher standard age may be necessary.

But note: For those born up to 1964, the standard retirement age is fixed, so an increase in this limit will only affect the younger generations at most.