Retirement age 2024: This is how the pension deductions increase at 63

Retirement age 2024: This is how the pension deductions increase at 63

According to a report by www.wa.de, the pension at 63 in 2024 will be affected by deductions, especially for those born in 1962. Those who turn 63 next year will face increasing deductions that will be levied during the earliest possible claim of the pension.

For every month that insured people take early retirement, 0.3 percent is deducted from their pension, which leads to a permanent deduction. Next year, insured people born in 1961 who will turn 63 in 2024 will suffer a maximum deduction of 12.6 percent. Those born in 1962, on the other hand, will be faced with a discount of 13.6 percent when they are able to retire at 63 for the first time in 2025.

The increasing deductions will undoubtedly have a negative impact on the financial situation of those affected. This can lead to significant financial restrictions, especially for those who have already made tight calculations. It is important that financial professionals and advisors inform their clients about these changes and identify possible countermeasures.

It is possible to mitigate the effects of the deductions by purchasing pension points or taking into account tips and tricks. However, alternative retirement planning options should also be considered to ensure financial security in retirement. These changes will also have an impact on the market as they can influence consumer behavior and financial planning of those affected.