What is a full old-age pensioner?
A full old-age pensioner (Altersvollrentner) is a person who has reached the statutory retirement age and draws a full old-age pension. This gives them the right to the regular old-age pension without deductions or special rules.
The different types of old-age pension
- Regular old-age pension The regular old-age pension can be drawn once the standard retirement age is reached. In Germany, the retirement age is currently 67 for people born after 1964. For earlier birth years, the retirement age was raised gradually up to the 1964 birth year. The regular old-age pension can be drawn in full without deductions.
- Old-age pension for long-term insured persons People who can show at least 35 years of insurance in the statutory pension scheme can apply for their old-age pension early. In this case, however, they must accept deductions that apply for life.
- Old-age pension for especially long-term insured persons Anyone who has paid into the pension scheme for 45 years or more can generally draw their old-age pension earlier without deductions. This rule is often called the "pension at 63" (Rente mit 63), because people born before 1953 could retire at 63 without deductions. For people born in 1953 or later, the retirement age was raised gradually. The earliest possible retirement age therefore moves up depending on the birth year. People born in 1964 or later can only draw this pension from age 65.
- Pension with part-time work: the Flexirente For those who do not want to leave working life completely, there is the option of the Flexirente (flexible pension). This lets you keep working while drawing your pension and top up your income with the pension.
Key points for full old-age pensioners
- Additional earnings limits Since 2023 there have been no limits on additional earnings for full old-age pensioners who have reached the standard retirement age. They can earn as much as they like without affecting the amount of their pension.
- Tax aspects Pensioners are taxpayers too. A certain part of the pension remains tax-free. Above a certain total income, however, the pension must be taxed. It is advisable to look into your individual tax situation or get expert advice to avoid unpleasant surprises.
- Health and long-term care insurance Full old-age pensioners who were previously insured in the statutory health and long-term care insurance stay insured there. The contributions are deducted directly from the pension. Anyone who still works alongside their pension should note that the income from this work also counts towards the contribution calculation.
- Pension adjustments Pensions are adjusted every year in line with wage growth and inflation. This adjustment also affects full old-age pensioners. That is why it is important to keep an eye on the annual adjustment.
Conclusion
Being a full old-age pensioner does not necessarily mean leaving working life completely. There are various pension models and options that let you stay flexible. What matters is finding out early about your own options and the legal framework so you can make the best possible decision for your retirement.
