Early retirement with a reduction instead of unemployment
April 15, 2011 | 35,00 EUR | answered by Jan Wilking
My age is 56 (almost 57 years old). Currently working part-time under contract (gross salary of 1250 euros). I will be terminated in 3-4 months and will have to register as unemployed.
My current pension entitlements amount to approximately 1366 euros. Can I retire early with a reduction? What are the health insurance and long-term care insurance contributions? Am I eligible for subsidies?
Could I make monthly contributions to the pension fund to receive full pension upon regular retirement?
I already have to use private assets to survive.
Is this option instead of unemployment even possible, and how much could I earn monthly?
Dear inquirer,
I am happy to answer your inquiry taking into account the information provided and your contribution as follows:
If you were born in 1954, your regular retirement age is 65 years and 8 months. You can apply for statutory pension at the earliest at the age of 63, but this will result in a reduction of almost 10%, which will continue for life, even after reaching the regular retirement age! You can find a detailed overview here, for example: http://www.ruv.de/de/download/altersvorsorgeportal/altersrentenbezug_ab_1947.pdf
If you are eligible for unemployment benefits, you should make use of them.
I hope I could provide you with a helpful initial orientation. If you have any questions, please use the free follow-up function.
Please note that I cannot provide a conclusive advice here without knowing all circumstances as this is an initial consultation. If you wish for a conclusive assessment of the situation, I recommend contacting a lawyer and discussing the matter with them after reviewing all documents.
Best regards.
