Retirement Age

When you think about retirement?

Are you thinking of a pension at age 67? Or even 69? Do you play the lottery and dream about it, do you devote themselves to their true life goals? One option would be retirement. But what does it mean and who do they apply?

In many countries retirement is a legally regulated model, in which an older worker (55 +) lowered the remaining time until his retirement age. It is interesting that although half the working hours, but the employee at least 70% of its original content is replaced. During retirement will also increase the payments to the pension fund at least 80% by the employer.

Certain conditions are met, the employer can replace the increase in contributions from at least 20% (salary) and the increase in contributions to the pension fund of the Federal Employment Agency.

Important: The deadline for funding by the Federal Employment Agency in the European Union is the 31.12.2009. After retirement can still be claimed, but the increases have to be borne by the employer alone.

First steps to determine if retirement could come into question for you:

1. Check whether you are eligible for retirement. Are you 55 + and you were sozialversicherungpflichtig employed in the last 5 years, 1080 days? Please also note the special arrangements!
2. The end of retirement must be the beginning of your pension. You should tell from your pension for when your pension entitlement begins.
3. The period for retirement must be at least 3 years to apply. Decide you are working for one of the working: block model (first half of full-time, second did not) or Gleichverteilungsmodell (half the number of hours over the entire period of retirement distributed)
4. Talk to your employer / Personnel Office / Works: Are there any contractual or collective bargaining agreements or special features? What would the increase in your salary and pension contributions? What time model came into question? Important: retirement is a voluntary decision on BOTH sides.
5. Clarify your financial matters: Make sure you come clear with a reduced income. Do a calculation of your retirement by salary (eg, online) or leave it to calculate. Ask for, how much this would reduce your pension. Is that enough to you, what comes of the bottom line?
6. What happens in bankruptcy or illness? Here are guidelines for social security and insolvency protection of retirement, which should be strictly observed.
7. Last but not least: Do you really have to retire? Remember that the vielbelächelte “pension shock” for those affected can be dramatic. The desired freedom from the nightmare of the “futility” is removed, the “Up and retired feeling.” Even pensions to be planned and organized, actually more than the working life!

Conclusion: Well planned retirement is a real alternative to premature retirement. Succeed in this sense: good!