Pension plan suggestion for non-EU freelancer

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Hi all, I have been living in Germany for over 4 years with a freelancer visa as translator. I am under the TK health insurance but I do not have any pension plan as it isn't mandatory for freelancers. I am getting married in November with a EU citizen (non-German) who is employed [just saying this as a background info as I am not sure if it makes a difference].

I am planning to apply for Permanent Residence next year once I reach 5 years. I read that having 60 months of pension contribution is one of the main requirements. I don't know what to do with this... Buying the 60 months pension plan seems like the only solution, but it's also extremely expensive for freelancers... And I don't think I can afford paying 60-month of contribution in one go... it's like 18% of brutto income of 60 months, which is huge sum of money.

Apart from this, I also read that it is not advisable to buy into the German public pension nor the German private pension. They both have quite a lot disadvantages for foreigners...

So I don't know what to do... what's the best way to fulfil this requirement? can personal asset (like property, savings) be considered as old age security too?  any recommendation on non-German pension plan which is more affordable but at the same time recognized by the German authority? 

Thank you so much for your advice :(

 

 

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Hi there - if you use the search function, you'll find that this issue has been discussed numerous times already here on Toytown

The answer is always the same:

1) you can't back-pay 60 months of contributions into public pension anyway. So forget about that.

2) what you can do instead is set up a subsidiary private pension plan into which start paying now (no back-payments required, either) and into which you have, as per contract, to pay in a certain amount of capital until you reach pension age of 67.

What amount needs to be paid in and what kind of private insurance is applicable depends on where you life and what local authority is responsible for you. .If your location according to your ID is correct and you are in Berlin and will apply there, it is well-know what is required and straight-forward. 
 

just contact one of the specialized and experienced financial advisors active here on this forum and he or she can work out the correct solution for you. How much you'll have to pay monthly into this pension plan is obviously a function of your age (i.e. how many years are left til age 67) and the money that needs to be guaranteed to have accrued per plan by then.

A small warning: there have been cases in the past where people just set up this kind of pension plan and stopped paying into it when they had the permanent residence permit in their hands. This will get reported to the immigration offices and can lead to rather unpleasant consequences. So, in consequence, you should only commit to that if you can really sustain it.

 

Cheerio

 

I am a professional independent insurance broker, financial adviser, and authorised advertiser. Contact me.
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5 hours ago, Dorirsita said:

I am getting married in November with a EU citizen (non-German) who is employed [just saying this as a background info as I am not sure if it makes a difference].

 

As long as he has 60 German pension months, you don't need any of your own, see §9 (3) Satz 1 AufenthG (in English):

  • (3) Bei Ehegatten, die in ehelicher Lebensgemeinschaft leben, genügt es, wenn die Voraussetzungen nach Absatz 2 Satz 1 Nr. 3, 5 und 6 durch einen Ehegatten erfüllt werden. 
  • (3) In the case of cohabiting spouses, it shall suffice if the requirements in accordance with subsection 2, sentence 1, nos. 3, 5 and 6 are fulfilled by one spouse. 

 

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For public pension (as they are running out of money) if you request them for back payments with an explaination they can consider your case.

 

But seems like private pension might be cheaper. As the folks wrote above - best is to hire an expert.

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18 hours ago, PandaMunich said:

 

As long as he has 60 German pension months, you don't need any of your own, see §9 (3) Satz 1 AufenthG (in English):

  • (3) Bei Ehegatten, die in ehelicher Lebensgemeinschaft leben, genügt es, wenn die Voraussetzungen nach Absatz 2 Satz 1 Nr. 3, 5 und 6 durch einen Ehegatten erfüllt werden. 
  • (3) In the case of cohabiting spouses, it shall suffice if the requirements in accordance with subsection 2, sentence 1, nos. 3, 5 and 6 are fulfilled by one spouse. 

 

 

wowwwwwwww you make my day @PandaMunich!!!! :wub::wub: I am so happy!!!!!!!!!! He has been employed in Germany for over 7 years so he himself definitely has 60 German pension months!!!!  So I suppose that means I do not have to pay into any pension and I can just continue doing what I have been doing.

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9 hours ago, Dorirsita said:

So I suppose that means I do not have to pay into any pension and I can just continue doing what I have been doing.

 

Yes.

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