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Homeownership, Riester pension and Co The vast majority of Germans provide privately for the age – only nine percent do not do that. This was the result of a representative forsa study commissioned by CosmosDirekt. 1 However, the financial livelihood in old age is in danger as soon as a sickness or an accident is the end of employment. CosmosDirekt explains why occupational disability insurance not only secures a living, but also makes an important contribution to old-age provision.

When body and soul go on strike and working life has to be forced to rest, it often has financial consequences. Because without a regular income, those unable to work depend on state support – often beyond the retirement age. However, not everyone receives the statutory disability pension automatically. This financial support only gets those who can not work at all or only a few hours a day. As a rule, it is not enough to maintain the standard of living. “Disability insurance not only helps to offset the loss of income due to disability. It also allows those affected to maintain their private retirement savings. This is all the more important because disabled people inevitably suffer losses in statutory pensions, “says Karina Hauser, expert on occupational disability protection at CosmosDirekt. Especially younger unemployed workers are particularly affected. The expert explains what to pay attention to.

Tip 1: Take out occupational disability insurance early
In general, the younger the insured, the cheaper the policy. One reason is that most people are still fit for health when they start their careers. Nevertheless, the risk of becoming incapacitated for work is also high for young employees: for a 20-year-old man today, the figure is 43 percent. For women of the same age, it is only insignificantly lower at 38 percent. 2

Tip 2: Provide private for old age
Those who can no longer work for health reasons, for the increased risk of not being adequately supplied in old age. It is true that the State continues to write well the pensionable points which it acquired on average until the onset of occupational disability beyond the so-called reckoning period up to the age of 62. But beware: “Young people today are facing a retirement age of 67. For those unable to work, five years less are counted in the statutory pension fund than employees of the same age. In addition, those who become disabled at a young age can not benefit from salary increases. Consequently, the statutory retirement pension is calculated on the basis of low pension points – the result is a significant pension gap, “says Karina Hauser.

Tip 3: Plan contributions for retirement
Well, who makes provision for old age – but how can private old-age provision be continued even in the event of occupational disability? “The occupational disability pension should make it possible to continue to pay contributions for private old-age provision,” advises Karina Hauser. “It is often possible to agree to a deduction of occupational disability benefits when concluding a private pension.”

  • Occupational disability and old-age provision 83 KB

  • 1 forsa study “Work, family, pension – what gives German security”. In May 2014, 2,001 persons aged 18 and over were interviewed in Germany.


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