Not sure what your statutory pension looks like? If you're older than 27 and have worked at least 5 years, you automatically get sent information about the statutory pension you can expect when retiring. You can always request receiving this information at the Deutsche Rentenversicherung.

Generally speaking: If you're employed, you automatically pay into your statutory pension each month, so you get a monthly, lifelong rent when you turn 67. The standard pension at the moment is about 45% of the average gross salary*. Meaning you'll have significantly less money available than you had before you retired. To avoid this situation you should start saving up yourself.

*Source: Rentenversicherung in Zahlen 2017. Online in Internet: http://www.deutsche-rentenversicherung.de/Allgemein/de/Navigation/6_Wir_ueber_uns/02_Fakten_und_Zahlen/02_kennzahlen_finanzen_vermoegen/1_kennzahlen_rechengroe%C3%9Fen/standardrente_rentenniveau_node.html

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