German retirement and pensions

54 posts in this topic

Posted

3 Questions

1. Is it true that I can take a cash payment of my pension contributions if I leave Germany permanently within 5 years?

2. Does my company match my contributions?

3. On my wageslip I have the sections called RV- Beitrag and AV-Beitrag. The RV Beitrag amount is 3 times the amount of the AV. What are the differences?

Crosslink by admin: Pensions in Germany

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Posted

1. I believe so

2. Are you confusing pension contributions with health insurance? State pension contributions (compulsory) are sorted out by your employer. Private pensions are your own affair.

3. RV is pension whilst AV is unemployment insurance.

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Posted

What I meant in question 2 was . My RV-Beitrag is xxx, does my company have to match that? So in effect the amount is doubled? I am just trying to calculate how much a cash payment would be if they doubled my contributions.

I also heard somewhere I cannot get a cash payment until I am out of Germany for 2 years but I cant find the facts

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Posted

You don't get back what your company paid in, only what you paid in. That's the catch for retiring someplace else I guess.

And I don't think you can come back and work here again if you do take the money and run.

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Posted

The employer matches your contributions. It's 50-50.

In some circumstances you can take some of the money if you leave the EU for a LONG time.

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Posted

2 years is the standard.

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Posted

Look into this further. I had a friend who had left Germany, she was told to claim her pension contributions back after 3 years of leaving. When she went to get it all sorted she found out that there had been a change in the law in June/July 2004 and she wasn't able to get a penny.

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Posted

I am also leaving Germany in August. This afternoon I had my meeting with the head of my human resources, to discuss a number of things, including claiming back pension contributions. I was told that if you have not been in Germany for more than 5 years you can claim back any pension contributions you have made (into the state pension of course), but you will not get the employers contribution back.

It doesn't matter where you are from or where you are going to (I'm a Brit moving to Florence), you can still claim back all your contributions. However, you can not apply until you have not been living here for 2 years. There are several ways you can claim it back:

- Write to the authority (BFA) before you leave to get the forms and then keep them for 2 years. Don't have the address yet though.

- Get your tax consultant to help you (for a small fee of course).

- After 2 years go to the German Embassy in your new country. They should take care of it for free.

The alternative to claiming your tax back is to leave it there until you retire then you get yours and your employers contributions as a pension. What with the state pension being what it is, I was advised to take the money and run. I had no idea I could do this until today, so I am a happy bunny!!! What a great savings scheme it has turned out to be.

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Posted

something to check for the brits. i was of the impression that you can only roll it over into an approved pension fund due to an eu agreement or something. you dont actually get a lump sum that you can do what you want with

for non eu-ers its as written above. you get back your contributions after been out of germany for 2 years but you lose the employer contributions

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Posted

Bucket - yeah I heard something along those lines before. But I double checked with my human resources person, stressing the fact that I am British, and she assured me that I too could claim it back? I hope she didn't make a mistake. I assume she knows what she's talking about. Anyone else heard anything about this, then?

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Posted

Imp. point is there are some understandings between Germany and lot of countries. If ur country has something so, then u get that money only when u r 65 Years old.

vamsi.

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Posted

Hi Petal - thanks for the updated info...so it seems like you can get your friendly tax man to fill out the forms now and then submit the claim 2 years later? If you get the address please post it up, that would be really great.

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Posted

Heres another 2 question on this topic that will never die.

So if you cant claim back the 50% that your employer has contributed to your German retirement fund, what happens to this money? Does it stay in the hands of the government or is it returned to the company?

If you are in a private fund does it allow you to get back/roll over the company contributions also?

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Posted

Does anyone know how this applies to Canadians? Is there a pension agreement?

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Posted

Interestingly enough this is an agreement with Canada - we just checked into this because we have been here 6 years (paid into the system here) and got a really weird letter from Canadain Government regarding our Pension here in Germany...

Have to ask Tim Horton Man to give you the low down - since he is the one that looked into it for me...

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Posted

I got a really weird letter from the German Government via the Canadian government which I haven't answered yet. They the German government wanted to know all the times I left Germany, with documented information like flight receipts, stamps in Passport etc.

I finally made it down to the embassy, and the guy laughed, all I require is a Anmeldung thingy from when we first arrived in Germany.

Canadian pensions are now paid in Euros, and soon will be deposited (after the Government takes it share) direct into your German bank account.

I noticed this last year when our GST refund cheque was in issued in Euros. I used to mail it back to Canada to be deposited back into my bank account for next time I went home.

I worked 19 years and Chris worked 18 years just shy of the 20 year requirement to get 100% of OAS (old age security)

CPP Canada Pension Plan is based on the number of years you contributed. I was told to expect about 50%after tax of what we would receive had we worked till 65 in Canada. Average monthly benefit $465,95 Max 844.58 So we will get around $400 each.

A working Mum will receive a pension, but a stay at home Mum won`t.

Meet a British lady retiring back to Canada (Quebec to be exact) after working here for 9 years her pension, 500 or so Euros a month ($750). 45 years of working in Canada will get you the grand total of 844 a month for CPP. No wonder the German pension system is going broke.

I believe the grand total for a life time of work (remember in Canada you don't get pensioned off at 50) for a 2 income family would be around $24,000 a year very little to live on. When the husband dies the wife unless she has savings is facing certian poverty.

CPP courtesy of tax hikes a few years ago is on solid ground, unlike Social Security in the States. Thanks to Bush its going to be broke the moment the Baby Boomers start to retire! So if your American forget about Freedom 55 much less Freedom 65 :(

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Posted

Anybody informed on leaving Germany after 5 years working for one company,

What steps to take, take money back or keep German pension?

Thanx

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Posted

Someone at work checked this out with the consulate. Basically, as an EU citizen, you can't claim back pension contributions from Germany if you've worked for 5 years or more in the whole EU, not just in Germany. So no claiming it back after two years for Brits or any other EU citizen.

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Posted

I was just going to say the same. It kind of connects with EHIC schemes being introduced and all. I guess its more a case of transferring yourself and your contributions/entitlements as you move around the EU i.e transfer elsewhere in EU and continue - yes, cash payout - no.

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Posted

I don't know about transferring as you get the pesnion from the country you worked in but, yes, in theory it means something like that.

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Posted

I am a 65 year old German citizen living in Norway. I was living and married in Germany from 1966- 1973 I was a company director with my German husband for the first 4 years, got divorced and worked for LTU Dusseldorf for about 18 months. I am not sure about the pension contributions while I was a director. Do I have a right to a state pension as a German citizen?

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Posted

...Do I have a right to a state pension as a German citizen?

Being German or not does not make any difference...

Holy cow! A German posting on a forum for English-speakers living in Germany and getting a kick-a*s answer from a lovely Panda bear.

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Posted

Living here as a Brit, I was told that if I retire to New Zealand, I would lose one third of what's left of my German state pension.

I wasn't told why but I assume that it was/is an attempt to save money.

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