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Germany has one of the best social security systems in the world. Pensioners living in Germany benefit from social security contributions, as in most countries. German pensions differ due to the federal structure of the country. The amount of pension is influenced by the state in which the person lives and other factors (age, gender, marital status, working time, etc.). But in general, pensions depend on the retirement age and the amount of contributions.
Age Requirement: You must have reached a certain age to be able to retire in Germany. This age limit is 67 for those born after 1957.
Premium Payment Term: In order to retire, you need to pay a premium in Germany. These premiums are paid automatically for the duration of your work as insured. The premium day, on the other hand, shows changes according to your date of being insured, depending on the line of business you are affiliated with.
Minimum Working Time Requirement: In addition to paying a premium for retirement for a certain period, you must have worked as an insured person in Germany for at least 5 years.
Insurance Condition: In order to retire in Germany, you must have worked under insurance. However, many people also choose to retire using pension plans offered by private insurance companies.
Full Retirement or Partial Retirement Option: If the conditions necessary for full retirement are met, the right to a full pension is acquired. In addition, there is also the option of partial retirement for people under a certain age.
Many options are available for those who want to retire from Germany. Those who work in Germany and pay social security contributions can receive a pension under the Federal Pensions Act (Bundesrentengesetz). In addition, it is possible for employees in Germany to purchase private pension insurance at the same time.
The retirement age in Germany is 67. However, many people, especially those who work hard jobs, may want to retire earlier. In this case, early retirement options are also available.
There are some requirements for early retirement. These can include conditions such as the person working uninsured for more than 35 years, working heavy jobs or having health problems. Persons who meet these requirements can retire from the age of 63, without waiting for 67 years.
In Germany, pensions are calculated based on the social security contributions that a person has paid during their working life. How much the pension will be can vary depending on the length of time the person has worked, the premiums he has paid and his age. Pensions are paid monthly and are sufficient for you to be able to maintain your standard of living.
Applying for a pension from Germany is quite easy. Simply fill out the pension application form along with your social security number and other personal information. Once your application has been processed, your pension will be calculated and notified to you.
As a result, it is quite easy and advantageous to retire from Germany. Employees in Germany, Federal Pension Act They can receive a pension under it, and at the same time purchase private pension insurance. Early retirement options are also available and pensions are sufficient to maintain your standard of living.
With UPTION you can receive your pension from Germany directly to your UPTION account in Turkey and use it in Turkey.
With the reform of pension insurance organization carried out on 1 October 2005, all German pension insurance institutions”Deutsche Rentenversicherungmerged under “.
Deutsche Rentenversicherung pays pensions to personal bank accounts in Germany, but also transfers them to accounts in other countries. With this service, payments can be made to personal accounts located in SEPA countries, Iceland, Liechtenstein and Norway.
The international bank code (BIC) and the international customer number (IBAN) of the beneficiary's bank account number (IBAN) are required for the payment of pensions by Deutsche Rentenversicherung.
Pensioners in Germany, UPTION applications such as Through it, they can also receive and spend their salaries without interruption while living in Turkey.
Optionally, pension payments from Deutsche Rentenversicherung are converted into the currency of the country in which the payment will be received by working with the Deutsche Post AG Pension Service.
Bank charges, currency conversion fees or currency differences that may arise during the transfer process in payments made by Deutsche Rentenversicherung are not covered by the institution and are paid by the rightholder. If you receive your payments to Turkey through banks, it is likely that you will have a large deduction in your salary due to SWIFT fees. To avoid this type of deductions, you can receive your salary payments with a deduction of 1 euro using your UPTION Europe Account.
You can get your pensions quickly and easily with UPTION.
You can also use your UPTION Europe Account to receive your pension in Germany. With UPTION, which assigns you a valid IBAN in the SEPA region, you can easily receive your pension from Germany to your account in Turkey. Much cheaper than receiving a payment with SWIFT to a bank, you can get your pension by paying a transaction fee of just 1 euro. In this way, you can avoid having 100 euros deducted from your pension.
- You pay much less expenses compared to other banks and payment institutions.
- Your money is available directly in Turkey.
- You can use the money in your account for physical and online purchases with the UPTION Card.
- You can send the Euro balance in your account in Turkish Lira at the appropriate rates to your bank account. If you wish, you can transfer money to 176 countries.
- You can withdraw the balance in your Euro account in TL from foreign exchange ATMs in Turkey.
