Use the pension calculator to calculate your expected pension. The calculator is up to date and also takes into account additional income in old age.
Please enter the annual salaries without thousands separators (i.e. not 38,000 euros, but 38,000 euros).
The calculator determines the probable pension based on today’s purchasing power. It only provides an approximate value based on current assumptions and figures. Nevertheless, the result is meaningful, since the price development also affects the annual adjustments to average earnings, contribution assessment ceiling and pension value (for details on the pension formula, see below).
However, the further in the future personal retirement is, the more imprecise the calculation becomes; In addition, the premises for individual pension entitlements may change. It is therefore better to play it safe and expand your financial cushion more than appears necessary from today’s perspective.
The calculation results are based on simplified assumptions; a guarantee for the correctness is not accepted.
The pension formula is not as complicated as it first appears. Four factors go into the calculation. The formula for calculating the monthly pension is E x Z x R x A.E = earnings points This is the personal pension account balance. The gross income is compared to the average income of all insured persons for each year. If you earn exactly as much as the statistical average salary in one year, you get a payment point. In 2022, the average income will be 38,901 euros in western Germany and 37,333 euros in eastern Germany. If the income is lower, there is a zero before the decimal point, with higher incomes, more than one point is added to the account. There is a maximum of about 2.1 payment points per year. At the end of working life, all earnings points are added up. Anyone who has worked in the GDR or in the new federal states is not at a disadvantage as a result, the earnings are extrapolated to Western levels using a conversion factor set for each individual year.
The FOCUS Online guide answers all important questions about pensions on 135 pages. Plus 65 pages of forms.
Z = Access factorTime is money, even when it comes to retirement. Those who leave earlier get less. The access factor takes this deduction into account when calculating the old-age pension. Those who retire at the statutory retirement age have an entry factor of 1.0. For those born in 1956, the retirement age is 65 years and 10 months. It is the turn of the 1957 born at 65 years and 11 months.
Each month earlier reduces the pension by 0.3 percentage points. Retirement one year early costs 3.6 percent (the entry factor in this case is 0.964). Those who work longer, on the other hand, can look forward to more money.R = pension type factorIt is 1 for old-age pensions. Other values apply to other types of pensions, for example 0.55 for widows’ pensions or 0.5 for partial disability.A = pension value.A = Pension value The pension value corresponds to the monthly pension for one year of contribution payments with average earnings. It is reset every year and from July 1, 2022 it will be EUR 36.02 in the old federal states and EUR 35.52 in the new federal states. This results in a monthly pension of 1620.90 euros for the frequently quoted “corner pensioner” with 45 years of contributions and the respective average salary (old federal states).
Calculation exampleAn employee in the old federal states earned as much every year for 45 years as the average of all employees.E = 45 x 1Z = 1R = 1A = 36.02 eurosThe monthly pension is 45 x 1 x 1 x 36.02 euros = 1620 .90 euros.
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