Some of the views on the annual pension information is sufficient to inform about the amount of their expected pension. Others, however, want to calculate how high it fails. The pension formula will help. It is a simple multiplication of four factors:
a month, pension = earnings points x access factor x pension type factor x current pension value
The earnings points (EP)
These points are an employee in the course of his professional life to collecting. They are calculated annually on the basis of his average income individually and at the end of a working life adds. The amount of points achieved is calculated from the annual income of the pension payer divided by the average income of all Insured persons in that year. Mothers receive during their child-raising periods on the Basis of your previous average income, temporary pension points limited be credited. PDF Everything you need to know about your pension
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for example, A worker earned in the year 2019 45.600, – Euro gross. This sum is divided by 38.901 Euro; the of the German pension insurance (DRV) for 2019, fixed average pay is. The Insured receives 1,1722 EP.
In the calculation of the DRV takes into account the contribution assessment ceiling. This is the amount by which the salary of a legally Insured persons with contributions to the pension insurance will be charged. Since 1. July 2019, the contribution assessment ceiling for Western Germany is 80.400 euros in Eastern Germany 73.800 euros in the year. You caps thus also the maximum achievable pension entitlement. The above values change every year, in 2020, they rise to 82.800 euros in the West and on 77.400 Euro in the new länder
The income of workers in the five Eastern Federal States since is. 1.7.2019 with the factor 1,0840 multiplied. So you get on the same income more EP than West German workers. Also, this scheme is adjusted by 2020. Here are the pensions-a guide from FOCUS Online to buy
The access factor (ZF)
The DRV also takes into account the time that takes the Insured of his statutory pension, he Who does not normally Reach the statutory age of retirement, has a ZF of 1. The Insured will stop working five years before the normal age of onset, decreases the ZF to 0.82. Accordingly, the pension is reduced. The reduction applies to the death. Conversely, an Insured who is only five years after the statutory retirement age in pension, life, receives a higher pension, because his EP will be multiplied by the factor of 1.3.
The pension type factor (RAF)
It takes into account that there are different forms of pension. The classic old-age pension according to the will of the legislator, a wage-replacement function, and should therefore be higher than pensions with wage subsidy function – such as widow’s pensions, or pensions because of partial acquisition reduction.
The ordinary old-age pension has a RAF of 1. Who can only be restricted in employment, gets a RAF of 0.5, as he achieved in addition to their own income. Further there are special rules for miners ‘ social insurance insured (mountain people), Half or full orphans.
The current pension value (aRW)
The last factor in the pension formula is calculated each year on the basis of the pension adjustment formula new. It ensures that the remuneration paid to the pensioner to go to make it in consonance with the labour income of the acquisition, but at a slower pace. The aRW was for pensioners in Eastern Germany for 1. July 2019 to 31,88 EUR raised for West Germany, it is since then, 33,05 Euro.
example
Gert Johansen has accumulated in the course of his life 42,031 earnings points (EP) and went on 1.10.2019 Reached the applicable age limit (65 years, 8 months) in retirement. DRV So much money you get at the age click Here for the pension calculator the pension calculate finanzen.de (display)
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The pension adjustment formula
Behind the value of a pension is a mathematical monster: the pension adjustment formula. It takes into account the annuity value of the previous year, the development of gross wages and the contributory wages of the last three years.
the financial burden of the current contribution payers by contributions to the statutory pension insurance as well as your expenses for private retirement provision and the Riester pension is to be credited. Using the so-called “Riester-factor”– named after former labour Minister Walter Riester. The sustainability factor takes into account that the number of contributors is declining due to the demographics of pensioners is increasing, however. Therefore, the annual increase of pensions is always slightly smaller than the wage development.
The level of pensions
this figure refers to When, in the political discussion of a fall in the level of pensions and a percentage is called, then on the so-called “standard pen sioner” and whose pension as a ratio to the average income of all workers this year.
The fictional standard pen sioner has paid in full for 45 years in the pension system, and always the average income achieved. So he has reached exactly 45 EP, which were multiplied by the current pension value.
example: In the year 2019 referred to in this standard pen sioner 45 x 33,05 (West) = 1487,25 Euro pension, so 17.847,00 Euro in the year. In relation to the average income of those in 38.901 Euro) in this year (it had a pension level that is around 45,88% of the average net income. According to current forecasts, the pension level decreases after the deduction of social contributions, but before taxes up to the year 2030 to 43 percent.
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