Money Whoever is entitled to the basic pension

05:50  15 july  2020
05:50  15 july  2020 Source:   pressfrom.com

Deutsche Bank has to offer a cheaper basic account

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To get the full basic State Pension you need a total of 30 qualifying years of National Insurance contributions or credits. This means you were either If you’re not eligible for a basic State Pension or you’re not getting the full amount, you might qualify for a ‘top up’ to £80.45 per week through your

Pension credit is an income-related benefit made up of two parts - guarantee credit and savings Savings credit is extra money if you've got some savings or your income is higher than the basic “For example, they may be getting their state pension but not be aware that they are entitled to pension

Worked for a long time and still had little pension: this is the reality for many people. With the basic pension, insured persons who have been insured for many years will now receive a surcharge on their mini-pensions from 2021 onwards.

Für alle, deren Rente kaum ausreicht, gibt es bald die Grundrente. Gezahlt werden soll sie ab 2021. © Photo: Federico Gambarini / dpa / dpa-tmn The basic pension will soon be available to everyone whose pension is hardly sufficient. It should be paid from 2021.

«The basic pension is not an independent benefit. It is paid as a supplement to the statutory pension, »explains Dirk von der Heide, spokesman for the German Pension Insurance Federation. "The height is determined individually."

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Your State Pension age is the earliest age you can start receiving your State Pension . when you’ll reach State Pension age your Pension Credit qualifying age

This section provides information about who is entitled to a retirement pension (alderspensjon), and what conditions apply to the benefit. If you have worked in Norway for less than 40 years, the pension will be reduced accordingly. Your income must have been higher than the Basic Amount to

What are the requirements?

Von der Heide: In order to receive the basic pension supplement in full, there must be at least 35 years of so-called basic pension periods. The basic pension starts in a so-called transition area when there are 33 years of basic pension.

Basic retirement periods are, for example, periods with mandatory contributions from work, child-rearing and care periods as well as periods in which sickness or rehabilitation benefits were received.

Not counting periods of receiving unemployment benefits I and II, periods of schooling, voluntary contributions or periods of marginal employment - a so-called mini job - without paying your own contribution. By the way: Whether you are entitled to the basic pension is automatically checked. The payment is also made automatically. You do not have to do anything.

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How to claim the basic State Pension and how it's calculated - for men born before 6 April 1951 and women born before 6 April 1953. To get the basic State Pension you must have paid or been credited with National Insurance contributions. The most you can currently get is £134.25 per week.

Anyone who has worked and paid enough National Insurance (NI) contributions for a set number of years should be eligible for the basic state pension . You must have been credited for making National Insurance contributions for 30 'qualifying years' to be entitled to a full basic state pension .

How is the basic pension calculated?

The surcharge is calculated individually. In short, the earnings points are increased, on the basis of which the pension is calculated. The basic pension is calculated from all basic pension periods in which earnings have been at least 30 percent of average earnings in Germany. In 2020, for example, that would be around EUR 1,000 gross per month. If your own earnings are lower, this time is not counted.

Also, the earnings based on the entire working life may on average not exceed 80 percent of the average earnings in Germany. For example, 80 percent of average earnings in 2020 will be around € 2,700 gross per month. The basic pension cannot be paid if the average income over the entire working life is higher.

When is the basic pension paid?

This is expected to begin in mid-2021 with the sending of the basic pension notices for pensioners who receive a pension for the first time from this point in time. All others will receive their notices little by little by the end of 2022. Unfortunately, there is no faster way, since the introduction of the basic pension is associated with a very considerable administrative effort. Of course, the basic pension surcharges to which you are entitled from January 2021 will be paid in all cases.

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