Пенсия для женщин в Германии: как избежать финансовых рисков

21 February 2025

Financial security in retirement is the key to a calm and free life. However, women in Germany face a whole range of obstacles: lower salaries, career breaks and insufficient attention to pension planning. In this article, you will learn what steps will help you avoid financial risks and secure your financial safety.

Video: what is happening to pensions in Germany, differences for women and men

Some statistics

According to data WSI Gender Data Portal жWomen in Germany earn on average 18% less, and their pensions by 33% lower than that for men. Thus, the average old-age pension for men in 2023 was around 1 348 euro. Women could expect to receive on average 908 euro.

State pension by amount for men and women according to the data Demography Portal

As can be seen from the chart, women are significantly more likely to receive low pensions: 77% of whom earn less than 1,200 euros a month, whereas among men the figure is 41%.

The main reason for this gap:

shorter employment history of women,
part-time employment,
gender pay gap

Part-time and full-time employment by gender according to data Demography Portal

As a result:

60% recipients of Altersgrundsicherung (basic old-age pension) — women.
Only 32% unmarried women have a private pension scheme.
20.6% women are at risk of poverty.

Without active measures, the risk of poverty in retirement increases significantly. But this can be changed!

Trends leading to women's financial vulnerability

Socialisation and stereotypes
Women in Germany were late in gaining the ability to manage their own finances independently:
- Until 1962, women in Germany were forbidden from opening their own bank accounts.
- In 1977, a law abolished the requirement for a husband’s consent for his wife to work.
Low financial literacy
According to a BaFin survey, 75% women consider their knowledge of finance to be insufficient, and only 10% of them invest regularly.
Transfer of responsibility
60% women tend to leave key financial decisions to their partners, which may lead to financial dependence in the long term.

Step-by-step action plan for retirement security

Step 1

Check your pension statement (Rentenbescheid) — Find out how many points you have accumulated and what pension you can expect to receive.

Step 2

Explore the pension schemes (pension scheme overview can find here):

Basis-Rente/Rürup-Rente — in terms of its characteristics, it is very similar to the state pension scheme.
More details in this article.
Fondsgebundene Lebensversicherung — Self-invested personal pension.
More details.
Find out what savings schemes your employer offers, for example Workplace pension scheme) or employer-sponsored savings scheme. More details.
Riester-Rente - state-subsidised savings scheme. Particularly beneficial for women with children thanks to the support of the German government.
More details.
Other savings options.

Step 3

Start building your retirement savings with small but regular contributions. The main thing is not the size of the initial capital, but discipline and consistency, as long-term investments with a compounding effect can significantly increase your capital.

Step 4

Plan together, but act on one's owneven if you are in a partnership, it is important to have a separate pension provision strategy.

Step 5

Improve your financial literacy: financial seminars and monitoring financial channels will give you confidence in your decisions. Here are some of them, where you can get information on financial trends in a simple and accessible format (in Russian):

Step 6

Ask for advice. Do not hesitate to book a consultations with professional financial experts, which will help you choose the optimal savings strategies, avoid common mistakes and take into account all available allowances and subsidies. We are always ready to help you make a decision

Consultation

Different life situations mean different financial challenges

Every woman, depending on her status and life situation, faces different difficulties. Therefore, it is important to take personal circumstances into account when planning her financial future.

The main problems faced by different groups of women:

Women born and living in Germany

Part-time work after having children.
Late start to building private pension savings.
Poor financial literacy.

Late female resettlers

Incomplete or missing pension insurance in Germany.
Limited recognition of pension contributions from the country of origin.
Difficulties with the recognition of professional experience and qualifications.
Financial dependence on a partner or family.

Women from other countries who have started a family with a German citizen

Career break after relocating.
Lack of experience in the German system.
Insufficient attention to long-term financial security.

Women who have moved to Germany due to difficult circumstances in their homeland and have been granted refugee status.

Complete absence of pension savings.
Low income level.
Difficulty in finding a job.

Regardless of your life situation and the difficulties that arise, there are always opportunities to improve your financial standing and build a secure future. It is important to take a conscious approach to planning, make use of available public and private programmes, and, if necessary, seek professional advice. Financial security is not a matter of chance, but the result of sound decisions, and you can start moving in this direction at any time.

Brief overview of the main financial instruments

Savings scheme	Who it is suitable for	Pros	Disadvantages
Rürup-Rente (Basic Pension)) Minimum deposit 25 euros	Is an excellent addition to the state pension. Suitable for all groups.	— Tax advantages during the accumulation phase — Reliability	— Payment only in the form of a pension — Subject to pension tax
private pension insurance Minimum deposit 25 euros	To everyone who wants flexibility and a higher return	— Tailored terms Tax reliefs for the payment of savings	— Investment risks
Riester-Rente Minimum deposit 5 euros	Women with children	— Government subsidies — Tax reliefs	— The payments are taxable — Limited liquidity
workplace pension scheme Minimum deposit 25 euros	Working women	- Partial co-financing by the employer — Tax reliefs	- It depends on the employer
VL life insurance A contribution of €6 to €40 is typically paid by the employer.	Working women	— Support from the employer and the state	— Long-term viability

Calculation examples for pension schemes

Rürup-Rente (Basisrente) – A private pension scheme with tax benefits

Calculation terms:
Natalia (aged 30) and Svetlana (aged 50), both self-employed, decided to set aside 200 euros a month for Rürup-Rente and take advantage of the tax relief available.

Tax savings:
You can deduct €2,400 per year from your taxable income. If the tax rate is 35%, the saving will be €840 per year.

	Natalia	Svetlana
Age	30 years old	50 years old
Monthly contribution, EUR	200	200
Annual fee, EUR	2 400	2 400
Estimated yield of the programme	6% per annum	6% per annum
Savings period	37 years old	17 years old
Total amount of tax reliefs, EUR	31 080	14 280
Accumulated capital, EUR	243 300	59 068
Estimated pension amount, EUR	873	227

Result:
In 17 years, Svetlana will accumulate around 59,000 euros, while saving more than 14,000 euros in taxes, and her pension will amount to 227 euros. Meanwhile, Natalia will build up a capital 4 times greater and can expect a pension of 873 euros.

Rürup-Rente advantageous for both employees and the self-employed thanks to substantial tax reliefs. The earlier you take out a contract, the more benefits you will receive.

Riester-Rente – State pension scheme with subsidies

Calculation terms:
Maria, aged 40, has three children. With a minimum contribution of 5 euros per Riester-Rente, the state provides her with the following subsidies: 175 euros for the policyholder and 300 euros for each child per year.

Maria's annual subscription: €60
State subsidy: €1,075 (175 + 300 × 3)
Annual subscription including subsidies: €1,135
Programme return: 2% per annum
Savings period: 27 years

Result:
By the time she retires, Maria will have saved around €36,000, the main part of which consists of subsidies and investment returns.

Riester-Rente It is particularly advantageous for women with children thanks to the high level of state support. It is also possible to use the accumulated capital to purchase property. If you opt for pension payments, you may receive a lump sum of 30% of your accumulated capital upon retirement.

Private pension insurance

Calculation terms:
Elena, aged 45, wants to build up her pension independently. She decides to put aside 150 euros a month into a private pension scheme with a flexible investment strategy.

Monthly fee: €150
Annual fee: €1,800
Programme return: 6% per annum
Savings period: 22 years

Result:
In 20 years’ time, Elena will have saved around 66,500 euros, of which 26,900 euros will be investment gains. If she withdraws the entire amount upon reaching retirement age, Elena will only pay tax on 50% of the profit earned.

private pension insurance provides greater flexibility in choosing investment strategies and allows the terms to be adapted to life changes.

Occupational pension scheme (bAV) – Corporate pension scheme

Calculation terms:
Anna, aged 35, works for a company where she earns a gross salary of 3,000 euros. Her employer offers a bAV scheme with a contribution rate of 100% of her monthly salary and pays €100 per month into Anna’s pension scheme.

Contribution of 100 euros a month
Annual subscription: €1,200
Programme return: 4% per annum
Accumulation period: 30 years

Result:
Provided that employer only makes a contribution of 100 euros a month into the pension scheme workplace pension during 30 years old, and the average annual return is 4%, the final total of savings will be €70,800, of which nearly €25,000 is investment profit.

This option is advantageous for the employee, as capital accumulation is entirely provided by the employer, and investment growth increases the final amount.

VL life insurance

VL life insurance – a savings scheme via a bonus that many employers in Germany provide for their employees.

Calculation terms:
Diana, 34, works for a company that provides its employees with €40 a month to invest in various savings schemes

Diana's contribution from her employer's bonus: 40 euros a month
Annual subscription: €480
Programme return: 6% per annum
Accumulation period: 33 years

Result:
In 33 years Diana will have saved around 23,500 euros, with the guaranteed amount being around 16,000 euros, and for payouts after the age of 62, the same tax reliefs apply as for private pension insurance

The employer's contribution and tax reliefs make this scheme very attractive for working women.

Conclusion

Real-life calculation examples show that even small regular contributions can lead to significant savings for retirement. Choosing the right scheme depends on your current situation, age and professional status.

The earlier you start, the more opportunities there are for the growth of your capital.

Financial independence is your freedom and confidence in the future. Start planning today to ensure a comfortable retirement. You don't need to understand all the finer details straight away — start small, consult a professional and move step by step towards your goal.

«Your future is in your hands. Start acting today!»

Video: what is happening to pensions in Germany, differences for women and men

The German pension system is undergoing major changes, and thousands of pensioners are already finding themselves on the verge of poverty. Why are more and more people receiving only minimum benefits instead of decent payouts? What awaits us in the future? We find out in this video.