Can I earn additional income as a retiree without risking my pension?
June 17, 2024 | 50,00 EUR | answered by Christian Voigt
Dear Sir or Madam,
My name is Erwin Schröter and I am retired. Over the past few years, I have built up a small financial cushion, so I would like to earn some extra income to better cover my monthly expenses. However, I am concerned that this additional income could jeopardize my pension.
Currently, I receive a pension from the state pension insurance and I would like to know if it is possible to earn some extra income on the side without my pension being reduced. I do not want to jeopardize my financial security in any way and therefore want to handle everything correctly and legally.
Could you please provide me with information on the regulations regarding additional earnings for retirees? Are there specific limits I must adhere to in order to not endanger my pension? Are there ways to increase my income without it affecting my pension?
I would greatly appreciate your assessment and advice to clarify how I can improve my financial situation without jeopardizing my pension. Thank you in advance for your help.
Yours sincerely,
Erwin Schröter
Dear Mr. Schröter,
Thank you for your inquiry regarding additional earnings as a retiree and the effects on your pension. It is understandable that you are concerned about risking your financial security, so it is important to be aware of the applicable regulations.
In principle, it is possible for retirees to earn additional income alongside their pension. However, there are certain limits that must be observed to avoid a reduction in pension. In Germany, the principle of the earnings limit for retirees applies.
The earnings limit determines how much a retiree is allowed to earn in addition to their pension without a reduction in pension. For retirees who have retired early, there is a special regulation. Currently, this limit is set at 6,300 euros per year. If you exceed this limit, your pension will be reduced accordingly. Therefore, it is important to keep track of how much additional income you have to avoid any unpleasant surprises.
There are also ways to increase your income without affecting your pension. For example, you can look for part-time employment or start a self-employed activity where you stay below the earnings limit.
It is advisable to seek comprehensive advice beforehand to ensure that your additional income is correct and legal. An expert in social security law can help you understand the applicable regulations and analyze your individual situation to find the best possible solution for you.
I hope this information is helpful to you and I am available for any further questions. Thank you for your trust and inquiry.
Sincerely,
Christian Voigt
Attorney specializing in social security law
