Pension

A pension is a financial support provided to individuals after they stop working. For instance, someone who has worked for 45 years may receive a monthly pension to help cover living expenses.

For residents in Germany or Austria, it is crucial to address pension matters early, especially regarding entitlements. The statutory pension is earned through contributions to the pension insurance, regulated by the Social Code (SGB). A common mistake is delaying applications, which can result in financial losses.

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