- Numerous workers in Saarland experiences comparatively meager retirement benefits.
In the Saarland region, many workers put in decades of social security contributions, only to anticipate a meager pension. As per a government response to a query posed by Sahra Wagenknecht, a BSW co-founder and German Bundestag member, obtained by the German Press Agency in Berlin, approximately 78,000 full-time employees with such a background may receive up to 1,300 euros in retirement benefits after 45 consistent years of contributions.
However, the Federal Ministry of Labour contends that the assumptions underlying this question are impractical, such as a consistent income proportion throughout the entire employment span. Based on the government response, around 253,000 individuals in the Saarland would remain under the 1,300 euros pension mark after 40 years of insurance, if they had always earned as much as they do today.
Since 2012, the standard retirement age has been gradually climbing from 65 to 67 years. To qualify for a retirement pension for long-term contributors, 35 years of contributions are necessary. If you're aiming for a retirement pension for extremely long-term contributors, 45 years are required. Certain age groups can call it a day without penalties before their 67th birthday, provided they've paid in for 35 years. For those born in 1964 or later, the retirement age stays at 67 years even after 35 years of contributions. Basically, it's possible to retire early sans penalties following an insurance period of 45 years.
Federal Employment Agency: Employment Statistics.
Despite the potential for early retirement with 45 years of contributions in the Saarland, many individuals may still fall short of the desired 1,300 euros monthly pension. Moreover, the Saarland region has a significant number of employees who, after 45 consistent years of contributions, could only receive up to 1,300 euros in retirement benefits.
