Retirement at 63: when you can retire earlier

Do you want to retire at 63? That is only possible if you have already contributed 45 years

Do you want to retire at 63? This is only possible if you have already paid 45 years of contributions.

Work most of your life employable people as a rule for your Living expenses. However, since the day job can be quite exhausting and burdensome in the long run, many employees are glad when they can finally take their well-deserved retirement at a certain age. Became a member during the period of employment statutory or private pension insurance paid into the pension scheme, this means that the pensioners without continuing to work will still receive a monthly pension payment of.

The statutory retirement age is currently for everyone who has received 1. January 1964 were born, 67 years. But is it also possible to retire earlier? What is the early pension at 63, which can be claimed only after 45 years? And when can you Retirement already enjoy at 63? Read more in the following guide.

Retire at 63: Who is eligible?

If you want to apply for the pension at 63, you should do so three months in advance in order to receive it on time

If you want to apply for pension at 63, you should do so three months in advance to receive it on time.

Which Requirement is crucial for retirement at 63? Since the 1. July 2014 can especially long-term insured – that is, people who have already 45 years of contributions have to show – apply for the pension at 63. For from 1. January 1953 born, this age limit rises piecemeal, as is the case with the standard old-age pension, and is lower for people who 1. January 1964 were born, in the case of 65 years.

So if pensioners reach the threshold for retirement at 63 and have already completed 45 years of work with contributions, you can apply for the Retirement at 63.

Further advice on the pension at 63

Which contribution periods count towards retirement?

However, not all periods in life can also be counted as Contribution periods are counted as contribution periods for old-age provision. If, for example, you were dependent on Hartz 4 for a certain period as an employee, this time is not included in the years of contribution periods. Which periods count for the early retirement at age 63 The following overview shows how many years of contributions are taken into account:

  • Compulsory contribution periods (also from self-employment),
  • voluntary contribution periods (if there are at least 18 years of compulsory contributions),
  • military service- and Periods of civilian service,
  • Care periods, periods during which dependents were cared for,
  • child-raising periods up to the 10. Year of child’s life,
  • Periods of receipt of Insolvency allowance or bankruptcy allowance,
  • Replacement periods,
  • periods during which a person Unemployment benefitI, partial unemployment benefit, transitional- or sickness/injury benefit received,
  • Periods in which people receive benefits for professional training received,
  • Contribution periods for a minorEmployment (pro rata).

Note: periods during which you received Hartz 4 or. Unemployment benefit II received are not counted as contribution periods of the 45 years of work when you retire at age 63. Also one Study will not be taken into account for the 45 contribution years for the pension at 63. If you have received unemployment benefit I for two years prior to retirement, this will only be counted as a contribution period if the unemployment is due to a Insolvency or Cessation of business of the employer came about.

Retiring at 63: By law, no one is obligated to do so

The salary from a 450-euro job can be earned in addition to the pension at 63 without being offset

The salary from a 450-euro job can be added to the pension at 63 without being taken into account.

Many employees who have already paid into the statutory pension scheme for 45 years often ask themselves about the pension at 63 whether this can be claimed early in any case must. The question "Do I have to retire at 63??"This is a question that probably arises for every employee who has already worked diligently for decades Pension payments has paid.

The pension at the age of 63. However, if you are under the age of 65 not obligatory.

If employees want to continue to work and thus go into retirement later, this is also possible. However, pensioners can also work alongside their pension: Up to one earnings from 450 Euro (z. B. in a mini-job), the additional earnings can even be retained without deductions.

Provisions on retirement at 63 for women

Of course, both men and women can benefit from the pension at 63. Thanks to the crediting of child-raising periods, which were predominantly assigned to women in earlier years, any Interruptions in the period of employment so also be included in the contribution periods.

In addition, women also have the option of early retirement without deductions in addition to a pension at age 63 if they before 1952 were born, at least for 15 years have paid contributions to the pension insurance and ten years of these contribution payments according to the 40. At the age of 63 were made.

How much is my pension at 63?

Periods of child rearing up to the age of 10 are also counted as contribution periods for the pension at 63

Periods of child rearing up to the age of 10. The additional periods of employment before the age of 63 are also counted as contribution periods for retirement at 63.

The pension that beneficiaries can receive from the age of 63 is calculated in exactly the same way as the conventional standard old-age pension. Only because it is drawn earlier, there is no deviating calculation method.

In this case, the amount of the old-age pension depends on various factors such as the access factor, the collected earning points, the pension type factor as well as the current pension value dependent.

While pension type factor and current pension value are not used by employees influenceable but are determined according to the type of pension (widow’s pension, standard old-age pension) and the value of an earning point, must be Earning points be accumulated by the employee during the period of employment.

Also the Access factor, which the prospective retiree can determine himself to a certain extent, plays an important role in the pension calculation and is individual influenceable. Accordingly, the monthly pension value is calculated by multiplying all of the above factors together:

Monthly pension value = Earning points x Access factor x More recent Pension value x pension type factor

Application for early retirement at 63: when is the best time to apply for it??

If you want to apply for the pension at 63, you must do so at the German Pension Insurance do. In order to receive your pension in time, the application must be submitted no later than three months to be submitted before the intended start of pension payment. By the way, it is also possible to submit the application directly online to put. Should with regard to the pension at 63 still Questions be open, you can also contact the German pension insurance at any time.

When is early retirement without deductions not possible??

If you want to retire at 63 without deductions, you must have 45 years of contributions

If you want to enjoy the pension already at 63 without deductions, 45 contribution years must be presented.

To receive the pension at 63, without deductions is only possible if you have 45 years of contributions. If you cannot show these 45 years and still want to retire at 63, this is possible, however reduced When calculating your monthly pension payment, the Access factor.

This means that your old-age pension is reduced by a certain rate the earlier you retire or the earlier you retire. the further you deviate by a few months from the standard retirement age applicable to you. To receive a retirement pension at 63 without deductions, therefore, is only possible through 45 years of contributions or through other forms of Early pension – for example in the case of Severe disability – possible.

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