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If you are employed in Germany, part of your monthly salary will be paid into the state's pension fund. When you retire, you will then be paid a state pension from this fund. However, state pensions are often not quite enough to maintain the life style you've enjoyed before retirement.

This is why starting to save early for your retirement can be one of the most important financial plans to make. For more information, speak to one of our advisers.  


This section contains answers to some of the most frequently asked questions about saving for retirement.

To protect your current life style and family in the long run, there are three basic pension levels to consider.

1. Basic pension

This is the minimum pension level and comprises of the state pension, various other pension funds and the Rürup pension scheme, which comes with special tax benefits for freelancers and the self-employed.

2. Voluntary occupational and personal schemes

The second pension level comprises voluntary personal and occupational pension schemes, which are subsidised through the Retirement Savings Act and Retirement Income Act. Under these schemes, you are regularly paying into a pension fund and at the same time benefit from state subsidies. These schemes can also be extended to include your entire family.

3. Personal pension funds

The third pension level comprises of all of the pension funds that are not state-subsidised. These funds are of interest to people who prefer a more flexible approach to saving for their retirement than is possible under the voluntary occupational or the basic state pension scheme.

Good advice

Saving for your retirement is really quite easy and should ideally be started as soon as possible, even if it's just small amounts, to gradually build up more substantial savings for your retirement. Retirement saving advice will always be tailored to your specific circumstances and is sure to be a big help. Why not give it a try?

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