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Double pay for employees in Germany. Here’s who is entitled to it

Construction worker edited

Work in Germany. Double pay for employees in Germany. From 2023, people taking early retirement in Germany are able to earn an unlimited amount. So they can earn double – Old salary at work PLUS pension! There is also the threat of additional spending in the billions.

Persons retiring at the age of 63 after at least 35 years of work can now earn an extra €46,060 a year without any reduction in their pension. Due to staff shortages during the coronavirus pandemic, this additional earnings limit has been sharply raised. From 2023 it should fall to the old value (€6,300).

According to Social Affairs Minister Hubertus Heil, as a “contribution” to “counteracting the existing shortage of labor and skilled workers,” All pensioners are to be able to earn unlimited additional earnings from January.

Expected rush of early retirement

Social affairs expert prof. Gerhard Bäcker (University of Duisburg-Essen) expects a flood of new, early retirees. For those who can retire without deductions after 45 years of coverage, the unlimited extra income is particularly rewarding. “They can and certainly will apply for a pension” – apart from work!

The German Pension Insurance also warns: “The incentive to retire early” results in “permanent additional expenses that are not compensated during retirement.” Additional costs are averagely 15,000 euros per double income pensioner. At 100,000 of such working pensioners is already 1.5 billion euros! Last year alone, saw about 269,000 employees retiring early without deductions.

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Source: Bild