Lowest Pension Recipients Identified in Germany - Lowest Pension Benefits for Recent German Generations
Retirees in Germany born in various years have seen varying levels of pensions, with some cohorts receiving lower pensions than others.
For those born between 1947 and 1963, the regular retirement age ranges from 65 to 67 years. However, it's important to note that the actual pensions received by these cohorts only roughly represent these approximations.
Insured persons born in 1964 and later reach the regular retirement age upon completion of their 67th year of life. On the other hand, retirees born before January 1, 1947, and those born in 2016, 1950, 2018, and 1952 also have low pension levels.
The birth cohorts that received the lowest pensions in Germany during the years 2014 to 2018 are those retiring around those years based on the statutory retirement age. Notably, people born around 1949 and 1950 saw particularly low pension levels, with values around 47.7% to 48.1% relative to average earnings. Retirees born in 2014, 1948 also received low pensions in the same period.
It's worth mentioning that the height of one's own pension is not tied to their birth year, but rather determined by four other factors. To learn more about how one's individual pension is composed and how it can be influenced, you can refer to a related article.
For those looking to find the exact retirement age for each birth year, a table providing this information is available.
In conclusion, while the regular retirement age varies for different birth cohorts, the actual pensions received can differ significantly due to various factors. It's essential for retirees to understand these factors to make informed decisions about their retirement planning.
