State pension and company pension What net amount will remain for my wife and me?
December 15, 2020 | 50,00 EUR | answered by Steuerberater Knut Christiansen
Hello,
I will be retiring on 01.01.2024 at the age of 63. My wife is a homemaker without any income. My question is:
After all deductions, how much net money will be left for both of us to live/spend?
Our data:
- My state pension: €2,341 monthly
- My company pension: €1,100 monthly, taxed in arrears
- Residing in Bavaria, liable for church tax
- Tax office: Joint assessment for my wife and me
- Insured in the statutory health insurance
Could you provide me with a comprehensible calculation? This is very important for us, as we need to decide whether we can afford early retirement at the age of 63 or not.
Thank you in advance.
Good evening and thank you for using frag-einen.com!
I would like to answer your question as part of an initial consultation. Please note that this calculation is for the year 2024. There may be different tax rates in the future that could result in a different calculation. Therefore, I cannot guarantee a 100% accurate calculation.
If you retire in 2024, 84% of your pension is taxable (approximately 1,966 EUR per month). The company pension is fully taxed afterwards, so you would have around 36,800 EUR in income. After deducting your own health insurance contributions of approximately 3,000 EUR per year as well as other deductions, you would have a taxable income of about 33,500 EUR. With joint assessment, the income tax would be around 3,000 EUR (plus church tax of approximately 270 EUR) based on current rates.
So, you would have a net income of about 35,000 EUR per year.
28,100 EUR pension
13,200 EUR company pension
- estimated health insurance contributions 3,000 EUR
- taxes 3,300 EUR
= 35,000 EUR
I hope this answers your question, if not, please feel free to contact me again.
Kind regards,
Knut Christiansen
Tax consultant
