Pensions are becoming a powder keg: If you don't pay attention now, you'll pay for it!

Berliner Kurier Pensions are becoming a powder keg: If you don't pay attention now, you'll pay for it! 2 hours • 2 minutes reading time The turn of the year brought another hail of changes that will hit millions of pensioners and employees hard. The long overdue reforms to the pension system are driving many to despair, while experts continue to argue. The renewed increase in the retirement age is causing particular excitement. At the start of 2025, the retirement age will rise by a further two months, a trend that will continue until 2031 and will raise the standard retirement age to a whopping 67 years. The much-discussed retirement at 63 is also not spared: anyone born in 1961 will in future only be able to retire without deductions at the age of 64 years and six months. For those born from 1964 onwards, the retirement age will be set at 65. Meanwhile, the deductions for early retirees are soaring. For example, those born in 1962 who start their pension at 63 will have to accept a whopping 13.2 percent reduction - a significant increase compared to the 12.6 percent last year. But that is just the beginning. Leading business representatives are unashamedly calling for the retirement age to be raised to 68 - a move that is being met with angry protests not only from employees but also from social associations. Critics warn that these demands will primarily affect the weakest, while working conditions for older workers remain miserable in many places. Another controversial issue is the so-called active pension, which is intended to create incentives to work beyond the standard retirement age. While the CDU is promising tax-free supplements of up to 2,000 euros per month, the SPD is committed to maintaining early retirement and a fixed pension level. But what do these proposals really mean for those affected? The gradual increase in the age limit also does not stop at the old-age pension for severely disabled people. Here, the limit without deductions is rising to 65 years, while early retirement at 62 years of age is expensive with a maximum deduction of 10.8 percent. While politicians continue to debate, many are left with the bitter realization that every month of early retirement comes at a high price. Anyone who wants to avoid deductions must deal intensively with the new regulations - or continue working as long as their health allows. For those affected, retirement remains a balancing act between financial losses and physical strain. ■