Pension receipt certificates: What pensioners need to know about their pension information

Pension receipt certificates: What pensioners need to know about their pension information

According to a report by www.hna.de, all pensioners will receive their pension receipt certificates from the German Pension Insurance for 2023 in the weeks between January and the end of February. The certificates contain information on the pension paid out, health and nursing care insurance contributions and are necessary for the tax return. The German pension insurance helps pensioners by forwarding the required information from the certificate directly to the tax office. In addition, the tax return for pensioners is significantly simplified by data transmission to the tax offices, as attachments such as “R” and “Pension expenditure” no longer have to be filled out.

The impact of this measure can be significant. By automatically forwarding the information to the tax office, tax returns are made much easier for pensioners, which can save time and money. This can help pensioners submit their tax returns more punctually, which in turn makes the tax office processes more efficient. The measure can also help pensioners make fewer errors when filing their taxes because the required information has already been submitted. In particular, simplifying the tax return through the automatic transmission of data from the pension receipt certificate could lead to optimized and more efficient administration of tax processes in the long term.

Employees also receive important information about pensions at the beginning of the year. Between January and the end of February they receive the so-called annual report from their employer, which contains information about the length of employment and salary. It is recommended that you verify this information as incorrect information can negatively impact pension rights.

Providing this information on pension entitlements and contributions can help employees become more aware of their pension savings and, if necessary, make necessary adjustments to optimize their future pension entitlements.

Overall, the measure for the automatic transmission of pension and tax certificates for both pensioners and employees contributes to a simplified handling of tax processes and in the long term can contribute to more efficient management of pension provision and pension rights.