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Secure your future with a basic pension - the best retirement provision!
Basic pension - making your pension provision a safe haven
The basic pension - also known as the Rürup pension - is part of the so-called basic pension (1st tier) of old-age provision alongside the statutory pension insurance, the civil servant pension and the occupational pension schemes.
Specific features of the basic pension
The acquired entitlements cannot be inherited, lent against, sold, transferred or capitalised. The benefit is paid in the form of a monthly, lifelong retirement pension. The contribution expenses for the basic pension have been tax-deductible since 2005. In the transitional period until 2024, the expenses can be claimed up to the percentage rate applicable in the respective year. This will increase by 2 per cent each year until 2025 until it reaches 100 per cent.
The benefits from the basic pension are subject to income tax in full (deferred taxation). However, there will also be a transitional period until 2040. During this phase, the taxable portion of the pension increases continuously in small steps from 50 per cent (in 2005) to 100 per cent by 2040, depending on the year in which the pension begins.