Many factors flow into the calculation of the pension. The most important thing are the so -called earnings points.
The German Pension system is dynamic and oriented towards wage development. This can be seen, among other things, in the central role, which has the earnings points in the pension calculation.
What are earnings points?
In the case of earnings points, individual earnings are compared annually with the average earnings of all insured persons of the corresponding calendar year, as the German pension insurance explains. If the individual earnings correspond to the average, you get exactly a fee. If the gross earnings were above or below, you get more or fewer payment points.
If your own activity could not be investigated due to the maintenance of relatives or pregnancy or parental leave, this time is taken into account as if you had “a ‘hypothetical’ earnings during this period, which is fully or proportionately based on the respective average earnings,” it continues.
Copold not so easy!
In order to calculate the pension, however, it is not enough to multiply your own earnings points of the current year by the years of work. There are many factors that can be found in the so -called pension formula, according to the German pension insurance. The monthly pension amount is made up of a multiplication of the earnings points, the access factor, the current pension value and the pension type factor.
The access factor describes excursions or discounts that are taken into account in the pension. Discounts are obtained, for example, when pension is made early, surcharges, among other things, if one “after reaching the retirement age [die] Pensions do not include “. If there are no factors, this value is 1.0. Similar to the earnings points and the access factor, the pension type factor also describes an individual proportion of the monthly pension amount, because it describes the type of pension. Here, for example, a distinction is made in old -age pension (value 1,0) and full orphan pension (value 0.2).
In contrast, the current pension value determines the value of a pay point and is adapted to the respective economic situation, not to individual situational factors. For the new federal states, earnings are adjusted with a conversion factor to the work fees at “western level” in order to compensate for possible disadvantages: “This factor corresponds, for example, to the ratio of west average wages to Eastern average wages and is set individually for each year,” emphasizes the German pension insurance.
The pension information can be obtained from the pension information, which will be sent annually by the German Pension Insurance from the 27th birthday.
Editor finance.net
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