A Major Risk in Retirement! Underreporting Can Reduce Your Pension.
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4 Articles
In the calculation of the pension, in addition to the number of bonus days, as well as the amount of earnings declared to the SGK, becomes decisive. Complete reporting of overtime, bonuses and bonuses directly affects the pension.
In determining retirement pensions, not only the number of premium days but also the amount of Premium-Based Earnings (PEK) reported to the Social Security Institution (SGK) throughout one's working life is of great importance. Reporting based on a lower premium base can lead to a lower retirement pension in the long run. Employees are required to fully report their overtime, premiums, bonuses, and other premium-based payments to the SGK.
The earnings that employees report to the Social Security Institution (SGK) play a significant role in determining the amount of their future retirement pension. In particular, underreporting wages or failing to report certain payments to the SGK can result in a lower pension.
For millions of workers who want to live comfortably in retirement, the earnings reported to the Social Security Institution (SGK) are of great importance today. Reporting based on minimum wage or a low contribution base can lead to unexpected consequences in the retirement pensions of insured individuals who have worked for many years. So, what should employees who want to increase their retirement pension pay attention to? Why is it important …
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