Seniors - Only one in four works until the statutory retirement age
In Mecklenburg-Vorpommern, only one out of every fourth person worked up to the statutory pension age last year. Out of the 20,473 people who retired in the northeast, 5,728 of them were under the age of 66 years and two months and therefore still active in their professional lives, according to the German Pension Insurance Northern Branch, which announced this on Thursday in Lübeck. The statutory pension age is set to gradually increase to 67 years by 2031.
Two-thirds retired early
Two-thirds of the new retirees (6,767 people) therefore took advantage of the pension with no deductions after 45 years of insurance contributions, which is called the pension with 63. Mecklenburg-Vorpommern follows this trend in the eastern German federal states, where many people use this option, as the pension insurance reported. Another third (6,441) retired after at least 35 years of insurance contributions and accepted deductions, as it was further stated. For each month of early retirement, the pension amount is reportedly reduced by 0.3 percent.
The remaining pension entries in MV, according to the information provided, were for the disabled (1,536), the final pension for women, and pensions due to unemployment or retirement age.
Baby boomers reach retirement age
Approximately 20,500 people in Mecklenburg-Vorpommern received a statutory pension from the German Pension Insurance for the first time last year. This was around 1,000 more than in 2022, according to the German Pension Insurance Northern Branch. "The Baby Boomer generation is increasingly reaching retirement age, which is evident in significantly increasing numbers," said Sebastian Bollig, spokesperson for the German Pension Insurance Northern Branch.
In MV, the pension insurance reported that around 440,000 people received a pension last year. The federal state has 1.57 million inhabitants. Therefore, more than one out of every fourth person is a retiree.
In Schwerin, the capital of Mecklenburg-Western Pomerania, many seniors may find affordable pension accommodations, given the high number of retirees in the region.
Interestingly, some seniors choosing early retirement in Mecklenburg-Vorpommern might find themselves visiting the historic city of Lübeck, known for its rich maritime history and bricks-built architecture.
Despite the increasing number of retirees in Mecklenburg-Western Pomerania, it is essential for seniors to consider various insurance options, such as healthcare or long-term care, to ensure they have the necessary support during their golden years.
