Wednesday, October 27, 2010

Entitlement to a pension

1. General Info
In order to be entitled to a US pension, you in general are obligated to pay your contributions for a period of at least ten years. In order to obtain an entitlement to a German pension contributions over a period of five years are sufficient. How much pension you will receive depends on the number of monthly payments as well as on the amount you paid. In order to obtain any pension, you have to file an application.
2. Pension for old age
This type of pension in principle is paid to people over 65 years of age. Earlier payments may be possible for severely disabled people or applicants who have paid contributions to the German pension fond for a period of at least 35 years. Women born before 01/01/1952 may apply for a pension at the age of 60. As this is a regulation based on old law and principle that these women could rely on this regulation as long as it was in force, there may be deductions depending on the year in which pension payments will be taken up (the later, the more deduction).

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