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Pension from May 2024: Overview and requirements
Find out which age groups can go into their well-deserved retirement from May and which types of pension are possible for them. Experts provide insights and tips on retirement planning.
Pension from May 2024: Overview and requirements
In May 2024, a significant change will take place for some people: the long-awaited retirement. But not everyone can retire at the same time, as there are different forms, types and insurance policies. Retiring early can reduce pension payments, while retiring later can result in a higher pension but can also have an impact on health and wellbeing.
From May 1, 2024, retirement will be possible for several birth cohorts at the same time, with or without discounts. There are four main options for retiring next month: standard old-age pension, old-age pension for long-term insured people, old-age pension for particularly long-term insured people and old-age pension for severely disabled people. Each of these types of pensions has specific criteria, deadlines and conditions as well as different payment modalities.
People born between April 2, 1958 and May 1, 1958 can retire without deductions in May when they reach the age of 66. A study has shown that working longer hours can lead to higher levels of happiness. In addition, people born between April 2, 1961 and May 1, 1961 have the opportunity to claim the “old-age pension for long-term insured persons”, but with a discount of 12.6 percent.
Furthermore, certain people can claim the “old-age pension for particularly long-term insured people” from May, provided they have completed a waiting period of 45 years. Individuals born between January 2nd and May 1st, 1960 can receive this form of old-age pension without deductions from the age of 64 and two calendar months. Severely disabled people who were born between August 2, 1962 and September 1, 1962 can also retire from May, but with a discount of 10.8 percent.