Pension plus salary: the additional earnings limit for pensioners in Corona-crisis increases | money

Due to the Corona-crisis can earn retired this year, significantly more than in the past. What this means in concrete terms. pensions in Germany are to 1. July

Pension plus salary: the additional earnings limit for pensioners in Corona-crisis increases | money

Due to the Corona-crisis can earn retired this year, significantly more than in the past. What this means in concrete terms.

pensions in Germany are to 1. July increases. But not only can look forward to many pensioners. Because of the Corona-crisis pensioners 2020 can earn significantly more.

2020: the additional earnings limit for pensioners due to corona crisis

1. July increase in pensions in Germany. Because of the Corona-crisis retiree this year, in addition, can earn significantly more than in the past. After all, according to the German Federal pension insurance, the Federal government has raised the additional earnings limit for the year 2020 of the 6.300 euros on 44.590 Euro .

annual income* this amount does not accordingly lead to reduction of a early retirement * , as the German press Agency reported in March. The measure, however, is limited in time: as of 2021 the add the applicable then current earnings limit of 6,300 Euro per calendar year.

"The time limits for short-term employment in the period 1. March to the 31. October 2020 to be raised to five months, or 115 days of work", reported dpa. For a short-term employment will be paid accordingly, no contributions to the pension - and, therefore, no pension acquired rights.

Both New - as well as for existing pensioners and pensioners this raising the earnings limit will apply . No Changes there, however, with the added merit of provisions for pensions due to reduced earning capacity and imputation of income to a survivor's pension.

also read: tax policy for pensioners – the you'd better already know

How pensioners can benefit from increasing the earnings limit

The legislator wants to ensure the extension of the additional earnings opportunities for retired people to a report from Focus Online, according to for that the currently very high demand for medical staff will be covered, as it is hot on the website of the Federal Ministry of labour (BMAS).

But the measure is not on this group of people is limited, writes Focus Online. "Also (Early)retired* from other industries can take advantage of the generous scheme," writes the Portal and explains the differences between the old and the new scheme with reference to an example so:

"Old scheme": "A pensioner must annually earn 6.300 Euro, without pension cuts . Pensioners A. refers to 1400 Euro monthly pension and earned in the year 6300 Euro. This has no consequences for his monthly Pension. Pensioners add to earned but 10.000 Euro, then 40 percent of the amount of the limit of 6300 euros in excess of the free, will be charged with his monthly pension. So: 10.000 Euro 6300 Euro = 3700 Euro. 40 percent = 1480 Euro to be charged with his monthly pension, you will therefore decline to 123 Euro ."

And so the " new rules ", such as Focus Online writes: The exemption limit increases to 44.590 Euro. Only in the case of amounts which are about the successes of a settlement with the pension. "Who deserves to be in the year 2020 as a retired 44.590 Euro to get his full pension."

For comparison, so it is more in the report: in Accordance with the previous provisions of 40 percent of the 6,300 Euro would have been charged to earnings in excess of the amounts with his pension ." The previous statement is: 44.590 Euro 6,300 Euro = 38.290 Euro, of which 40 percent = 15.316 Euro annual pension reduction per month 1276 Euro."

read : Stiftung Warentest: These are the twelve most common errors in the life and annuity

raise the salary limits - many of the pensioners should benefit

Further, the report from Focus Online: "though not every retiree has the opportunity to earn annually up to five-digit amounts, in addition, should, however, benefit from many of the spacious state raising the ceilings on additional earnings ."

sources: dpa, Focus Online

Also interesting: 300 Euro per child: Families get more money through child bonus

ahu

millionaires reveal: With these five tips you will be rich

Updated Date: 15 June 2020, 06:34

You need to login to comment.

Please register or login.

RELATED NEWS