What can I do after the age of 60

Retirement at 60: what requirements do you have to meet?

If you want to retire at the age of 60, you have to meet certain requirements - and accept deductions.

© dpa

Desire for early retirement: To retire today at the age of 60 is tied to strict requirements.

March 27, 2019 notice: This article and the information therein are no longer current. The groups of people mentioned are now 67 years old and can therefore no longer retire at the age of 60 under the conditions mentioned. This does not affect the fact that not everyone has to work until they reach the standard retirement age. Here, too, the following applies: Anyone who decides to retire earlier must accept discounts. The relevant pension insurance company will inform you how high these are in each individual case.
Even today, pensioners can still retire at 60. However, this step is tied to strict requirements. The German pension insurance in Berlin points this out.

Retirement at 60 for women

For example, women born before January 1, 1952 can draw a retirement pension at the age of 60, even though their age limit for entering retirement is 65. However, contributions must have flowed into your pension account for at least 15 years - be it through your own contributions from your salary or through the crediting of child-rearing periods. And more than 10 years of this contribution period must lie after the 40th birthday.

Retirement at 60: the haircuts

For early retirement in these cases, too, the pension is only paid with deductions. For every month that you retire before the regular retirement age, 0.3 percent is deducted. This means that if you want to retire early at 60 at a regular retirement age of 65, you must expect a permanent deduction of 18 percent (60 months x 0.3 percent).

Retirement at 60: Requirements for the unemployed

The same requirements for the minimum contribution period - 15 years - apply to unemployed people who want to receive an old-age pension earlier. At least 8 years of the so-called compulsory contribution period must lie directly before the start of retirement, the contributions are also paid by the employment agency during periods of unemployment. Unemployment must exist for at least 52 weeks after the day on which the insured person is 58 years and 6 months old.
Even for the unemployed, early retirement is only possible if they were born before 1952 - the legislature set this annual limit with the Pension Reform Act with effect from January 1, 2000. Insured persons born between December 1948 and December 1951 can claim the old-age pension at 63 at the earliest and only with deductions.

Pension at 60 for the severely disabled

According to the information, special rules also apply to severely disabled people who were born before 1952. When you reach the age of 63, you can draw an old-age pension without any deductions. If you want to retire at the age of 60, you have to accept deductions of up to 10.8 percent.

Pension at 63: who is entitled?

Since July 1, 2014, some insured persons can retire at the age of 63 without deductions. To do this, however, they must meet a number of requirements. more

Pension: Early retirement only with deductions

Just under one in three Germans manage to retire directly from their job - the rest of them have to reckon with significantly less pensions. more

Source: dpa

| Updated: Friday, February 21, 2020 8:56 a.m.