Pension preparation: tips for applying for a pension

Pension preparation: tips for applying for a pension

Retirement marks a significant phase of life for many employees. Mass retirement is expected by 2036, as the baby boomer generation with the highest birth rate will send around 12.9 million workers into retirement over the next 13 years. Although many Boomers can't wait to leave the job market, unexpected crises can arise.

When preparing for retirement, it is crucial to submit all state pension documents on time to avoid financial worries. The application must be submitted to the German Pension Insurance and should contain the necessary documents such as pension insurance number, personal document, tax identification number, account number and others. The application may take several weeks to process, so it is recommended to submit it at least three months before the desired payout date.

In order to receive a higher pension, it is important to provide all documents correctly and completely. By clarifying the accounts, gaps in the contribution years can be closed and the pension amount can thus be positively influenced. Even after receiving the pension decision, it is advisable to check it carefully, as errors can occur that could cause pensioners financial losses.

Once you have successfully retired, it can take months to get used to the new phase of your life. Many new retirees feel empty or lost when their working hours end. It is important to deal with the issue years before retirement in order to avoid existential crises. Experts recommend building deep social relationships and volunteering as a way to combat the so-called “empty desk syndrome” that affects many retirees.