Thanks so much for the explanation. I still have doubts: - Once I switch from public pension to Base pension 1, can I stop paying public pension? Edit: I read other comments and the answer is no. - Do base pensions have a minimum contribution? What if I work for 2 more years in Germany and then leave? Can I still contribute from abroad? - When I pay to a base pension. Is it money after taxes that I should send there? And later in a tax return I request them back?
Hi Axel, you guys are making amazing and very helpful content for all the expats in Germany! Thank you so much for making such great content in English :). I've just been watching the German Finanz Channels for my investments and insurances and your Channel helps to Understand these complex things in a comfortable way in English. Keep up the good work!
Hi Alex! Great video! From my understanding, for public pension, government continues to pay you after retirement ( till the person dies), however for base pension your monthly pension would be based on what you have contributed and earned during the period, if your money finishes (what you contributed and earned), you are on your own, thats it :) the base pension would stop paying you! Thank you for your anticipated reply!
Both the German public pension and base pension will pay a lifelong pension. Even if you theoretically run out of money and life a long and prosperous life. 😊
@@PerFinEx Hi Axel, thank you very much for your response. But I guess this doesn't apply to Level 2 and 3 right? For those levels you earn based on what you contributed?
Glad you liked our video. The best pension company always depends on the individual situation (age, savings amount, investment strategy, etc). Feel free to book a free meeting at perfinex.de/meeting and we will help you find the best pension company & best pension scheme for your personal situation.
Hi Axel. Are you suggesting that as an employee we can opt out of the mandatory public pension (18.6%) and instead choose the base pension? Or is the base pension to be considered in addition to the mandatory public pension? Many thx!
Great question and also great suggestion for the German government to allow employees to choose freely between public pension and base pension (hopefully Angela Merkel is reading your comment). Unfortunately, as of right now, public pension is mandatory for employees and any other pension will come additionally.
@@PerFinEx I have read that with the Rürup I will not be able to receive additional subsidies. Does that mean that the contributions to public pension are lost?
Q1: Every employee is automatically enrolled in public pension (not every citizen). Non-employees can enroll voluntarily if they want to do so. But then again they can also burn their money. Both has about the same effect. Q2: Every pension other than public pension is a private contract, so yes you have to apply for that.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
There are a lot of independent advisors you might look into. But i work with jenny pamogas canaya and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her......
So useful even in 2024, thank you very much for explaining everything in such a detail!
Thanks so much for the explanation.
I still have doubts:
- Once I switch from public pension to Base pension 1, can I stop paying public pension? Edit: I read other comments and the answer is no.
- Do base pensions have a minimum contribution? What if I work for 2 more years in Germany and then leave? Can I still contribute from abroad?
- When I pay to a base pension. Is it money after taxes that I should send there? And later in a tax return I request them back?
I saw the answer in a previous comment. Public pension is always mandatory. But I can add a base pension on it.
Correct. 👍
Hi Axel, you guys are making amazing and very helpful content for all the expats in Germany! Thank you so much for making such great content in English :). I've just been watching the German Finanz Channels for my investments and insurances and your Channel helps to Understand these complex things in a comfortable way in English. Keep up the good work!
Our pleasure. Thank you very much for watching!
Dm via telegram 👆👆👆
Amazing content, Thank you very much!
Glad you liked our pension video!
Hi Alex! Great video!
From my understanding, for public pension, government continues to pay you after retirement ( till the person dies), however for base pension your monthly pension would be based on what you have contributed and earned during the period, if your money finishes (what you contributed and earned), you are on your own, thats it :) the base pension would stop paying you!
Thank you for your anticipated reply!
Both the German public pension and base pension will pay a lifelong pension. Even if you theoretically run out of money and life a long and prosperous life. 😊
@@PerFinEx Hi Axel, thank you very much for your response. But I guess this doesn't apply to Level 2 and 3 right? For those levels you earn based on what you contributed?
It's the same for all pension levels. A lifelong pension is a lifelong pension.
This was super helpful and well explain, thank you. Could you give some recommendations for good insurance companies?
Glad you liked our video. The best pension company always depends on the individual situation (age, savings amount, investment strategy, etc). Feel free to book a free meeting at perfinex.de/meeting and we will help you find the best pension company & best pension scheme for your personal situation.
Hi Axel. Are you suggesting that as an employee we can opt out of the mandatory public pension (18.6%) and instead choose the base pension? Or is the base pension to be considered in addition to the mandatory public pension? Many thx!
Great question and also great suggestion for the German government to allow employees to choose freely between public pension and base pension (hopefully Angela Merkel is reading your comment).
Unfortunately, as of right now, public pension is mandatory for employees and any other pension will come additionally.
@@PerFinEx I have read that with the Rürup I will not be able to receive additional subsidies. Does that mean that the contributions to public pension are lost?
Do you have any videos comparing different base pensions companies? You mentioned it around 11:33
That‘s what we do with clients in meetings. You can book a free meeting here: perfinex.de/meeting
Thank you for sharing this
Thank you for watching.
Where to find place to put money in for Bass penssion??
We can help you to find the best base pension for your personal situation in a free meeting: perfinex.de/meeting
in level 1,
Q1. does every citizen have both public pension and base pension?
Q2. or does the person have to apply for base pension?
Q1: Every employee is automatically enrolled in public pension (not every citizen). Non-employees can enroll voluntarily if they want to do so. But then again they can also burn their money. Both has about the same effect.
Q2: Every pension other than public pension is a private contract, so yes you have to apply for that.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
There are a lot of independent advisors you might look into. But i work with jenny pamogas canaya and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her......
Thanks a lot for this suggestion. I needed this myself, I looked her up saw her webpage and I have sent her an email. I hope she gets back to me soon.
Such good info and such bad presentation style. Almost sleepy