essential terms explained in plain language.
115 terms
Old-age pension — monthly retirement benefit paid by the statutory pension insurance (Rentenversicherung) once you reach the statutory retirement age (67 for those born after 1964).
Ihr Antrag auf Altersrente wurde ab dem 01.08.2025 bewilligt.
Company/occupational pension — additional pension provided by an employer, separate from the statutory pension. Contributions are paid from gross salary (Entgeltumwandlung).
Ihre Betriebsrente beträgt monatlich 320 € ab Renteneintritt.
Pension point — unit used to calculate the statutory pension. One Entgeltpunkt is earned each year you earn exactly the national average wage. The final pension is the number of points × current pension value (Rentenwert).
Basic pension supplement (Grundrente) — top-up benefit for people who paid into the pension system for at least 33 years but earned low wages. Automatically calculated by the Deutsche Rentenversicherung, no application needed.
Survivor's pension — pension paid to the spouse, registered partner, or dependent children of a deceased insured person. Includes Witwenrente (widow's pension) and Waisenrente (orphan's pension).
Der Anspruch auf Witwenrente besteht ab dem 1. des Folgemonats.
Riester pension — state-subsidized private pension scheme for employees. Savers receive government bonuses (Zulage) and tax deductions for regular contributions.