Pensions Abroad: Over 12,000 German Pensioners Collect Benefits Overseas
Foreign Pension Fund Disburses 12,600€ Retirement Benefit for Expats Living Abroad - Overseas Beneficiaries Receive a Total of 12,600 Pensions from Pension Insurance Fund
Living and working in the European Union doesn't result in a diminished social security package, as the German Pension Fund points out on Europe Day (May 9th). The fund currently pays out more than 12,000 pensions to expats across the globe, with around 12,100 pensions going to EU countries, comprising 96% of the total. This amounts to about 0.8% of all pension payments made in the German states of Saxony, Saxony-Anhalt, and Thuringia.
The German retirement fund clarified that living and working in the European Union grants workers the same social security rights as those in Germany.
Approximately 3,600 of these benefits are bestowed upon German retirees residing abroad, with approximately 3,300 living in EU nations. In comparison to five years ago, there has been a significant increase of 55% in pensioners receiving benefits overseas.
The figures revealed by the German Pension Fund in Mitteldeutschland suggest an increasing number of EU nationals are working in Saxony, Saxony-Anhalt, and Thuringia, contributing to the German pension system. In Saxony, the figure has grown from 24,700 five years ago to around 35,600 as of the latest count. In Saxony-Anhalt, the number of non-German employees working there went up from 12,100 to approximately 18,600 over the past five years, while in Thuringia, the figure jumped from 17,100 to roughly 24,300.
The German Pension Fund in Mitteldeutschland, headquartered in Leipzig, manages approximately 1.5 million pensions nationwide.
- German Pension Fund
- Retirement Fund
- EU
- Mitteldeutschland
- Saxony
- Saxony-Anhalt
- Thuringia
Insights
- The German Pension Fund coordinates with EU member states to account for work periods abroad, but each country pays its own pension portion separately.
- Specific figures comparing German pension payments to EU member states versus total pension payments in Saxony, Saxony-Anhalt, and Thuringia are not readily available.
- German pension periods are recognized in EU countries, with pensions accrued in each country being paid based on that country's rules.
- No specific data on the volume or value of pension payments distributed by the German Pension Fund to EU member states can be found in the search results.
Clarification
While the search results do offer some context, they don't provide explicit numbers or a direct comparison of German Pension Fund payments to EU member states compared to pension payments made within the German federal states of Saxony, Saxony-Anhalt, and Thuringia. In order to achieve a precise comparison, official data from the German Pension Fund (Deutsche Rentenversicherung) or regional pension authorities would be required.
- Strengthening the relationship between the German Pension Fund and EU member states could potentially lead to increased cooperation in vocational training programs, as a greater number of EU nationals are working in Saxony, Saxony-Anhalt, and Thuringia.
- To further strengthen the industry and finance of the local business community in these German states, the government could consider implementing policies that focus on vocational training, thereby bridging the gap between the growing number of non-German workers and the demand for skilled labor.
- One potential drawback to the influx of EU nationals moving to these German states could be the strain on social services, as pension payments might increase due to a larger population, though this is not explicitly stated in the provided text.
- In the pursuit of a comprehensive community policy, officials could consider examining pensions and vocational training as key areas of attention in the ongoing effort to welcome and support new residents while ensuring the sustainability of their social security systems.
