Retired earlier with severe disability: new age limit and requirements

Retired earlier with severe disability: new age limit and requirements

According to a report by www.merkur.de, people with severe disabilities can now retire earlier without having to fear deductions. The age limit for retirement has been raised, and severely disabled people born in 1964 can now retire at the age of 65 without any deductions.

The requirements for an early pension with severe disability are that you must have at least a severe disability rating of 50 when applying and have at least 35 years of insurance. If you accept discounts, you can even retire up to five years earlier. The deductions are as follows: for one year earlier 3.6 percent, for two years earlier 7.2 percent and for three years earlier 10.8 percent.

The effects on the market and the financial industry could be diverse. On the one hand, credit institutions and insurance companies could have to adapt their offerings to the changed pension conditions in order to accommodate severely disabled people. In addition, the demand for advisory services from the German pension insurance and social associations could increase, as many severely disabled people would like to receive advice about a sensible pension option.

Overall, it is expected that the new regulations will have an impact on the pension system and the financial sector, as a larger number of severely disabled people will retire earlier and various financial and social aspects will therefore have to be taken into account and managed.