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Toytown Germany posted a topic in FinanceHave you ever worked in Germany? If so, you most likely paid 9.3% of your salary into the German pension system — and you could get that money back. Pension Refund Germany can help you find out if you’re eligible to get a refund of your contributions. It takes just one minute! On average, expats assisted by Pension Refund Germany received a refund of 9,300 EUR. START YOUR FREE REFUND CHECK NOW START YOUR FREE REFUND CHECK NOW PENSION REFUND GERMANY Get a Free Refund Calculation Wondering how much you can get back? Pension Refund Germany requests your insurance record and calculates the amount of your expected refund. START YOUR FREE REFUND CHECK NOW PENSION REFUND GERMANY Save Some Time & Apply Online Are you tired of finding, filling out, and filing documents? Pension Refund Germany guides you through a 100% digital process. It’s simple and no paper is needed! CHECK IF YOU’RE ELIGIBLE PR Pension Refund GmbH Bardelebenstr. 6 40545 Düsseldorf Germany http://www.pension-refund.com email@example.com
There are many guides and pages explaining all the forms you need to fill and the requirements in order to get your pension contributions back. Want to make this short and simple so you don’t have to spend hours in research. Background: I think it is important to understand that the German Pension System does not work like a bank account on which (if you are lucky) the bank pays you an interest. The contributions you might receive when you are old, are paid by future generations (Generationenvertrag) and for the money you are paying now or you have paid, you do not automatically get an interest payment over the years (Umlageverfahren). Nonetheless, if you have paid contributions for many years it might make sense to wait until you reach the retirement age and get your usual pension payments. So in my opinion it is a matter of how long you really contributed to the system. You think about applying for the refund earlier? If yes then you should first ask yourself a simple question. Are you a European citizen? If, yes forget about it, because you will not be eligible. Only Non-EU citizens who worked in Germany can get a refund. Is it worth to apply for a refund? Well, that depends as mentioned above. It is important to know that if you decide to get the refund before you reach retirement age, that you only get back the contributions you paid (as a rule of thumb 9,3% of your gross salary), the contributions your employer paid will not be refunded. If you paid 40 years and you are close to receive a normal pension, I would say wait for your regular pension. But if you just worked in Germany a couple of years and now you can expect 20,000 EUR as a one-time payout, well I would say, give me the 20,000 now. So as mentioned above it is an answer you need to give yourself and it depends on how long you really contributed. How much will you get back? This is not so easy because not all contributions can get refunded, for example money you received as unemployment support you cannot receive back. But to make an easy calculation simply take your gross salary, e.g. 50,000 EUR x 9,3% = 4,650 EUR x number of years you worked in Germany, e.g. 4 years -> 4,650 x 4 = 18,600 € Are you eligible to get the refund? This is one of the most important questions which you can easily check online. Hope that helps and was not too long.