What is Rentenversicherung?
In Germany, as an employee, you are automatically signed up for Pension Insurance (Rentenversicherung). This covers you from the first day of employment. You receive a pension, if you're working in reduced capacity or when you're old. If you choose to leave Germany and go to your home country, you can claim the contributions early.
Gesetzliche Rentenversicherung is the statutory or public insurance that you are automatically signed up for. It is mandatory and accounts for 18,6% of your total income. Your employer and you will split it equally (9.3%).
Your employer may offer additional private company pension plans. This is optional and the contribution amount depends on your employer.
Pages that mention Rentenversicherung
- How to calculate salary in Germany (with examples!)
- Working in Germany from abroad
- Blue Card to Permanent Residence in Germany