What is a Pension ABC?

This section directly leads you to the pension systems and their description, the so-called Pension ABCs. Thus, after having found your pension provider you can learn about the pension systems’ respective benefits. This is important in order to deal with your future pension. Please be aware that there are various different systems in each country and the pension landscapes in Europe differ significantly.
The Pension ABCs of the listed systems are described by using a basic and an advanced layer. The basic layer gives you an overview on the key or core aspects and characteristics only. Each aspect is presented by the icons described below. You can find more detailed information in the advanced layer, explaining the essentials structured according to live situations and in FAQ style. The basic layers of each pension institution will be introduced step-by-step.
Before you start reading the information layers, please take note of the source a system belongs to. The categorization is also represented by the source icons used. You will find the introduction to the different sources of pension under the section pension landscapes and in our introductory video.

   What kind of events are protected?

Under this Icon you will find all events protected by your pension scheme.

      Is there a certain period to qualify for entitlements?

Some, but not all pension systems require a so-called qualifying period. This means you need a certain minimum period in which you have been affiliated and/or have paid contributions before you start building up entitlements or they become “vested”.

   Who pays the contributions?

Usually contributions have to be paid by affiliated persons, depending on the system employers may have to contribute.

   What determines how the pension developes?

The old-age pension amount you have earned in a specific scheme depends on the way entitlements are “credited”. In other words, your pension entitlements “grow” like a plant, depending on certain factors which are part of the different schemes you are in. Pension accrual can e.g. result from how long you were insured, the contributions paid, the average salary you earned in your life and others. Under this icon you will find the determining key factors.

    When can you receive regular old-age benefits?

The pensionable age is the standard retirement age a system refers to and this may be fixed by law, statutes or others. Depending on specific circumstances, it is possible that the pension system allows you to retire earlier or later than the standard retirement age.

   How is your Pension Benefit paid?

Pension benefits are paid according to the rules of the pension system. Pension benefits can be paid weekly, monthly or annual. The payment of a capital value or a lump sum is only common in specific schemes. This Icon stands for the way the pension can be withdrawn.

   Are entitlements being adjusted?

The value of accrued entitlements may change due to inflation or deflation. In order to compensate this, systems may adjust entitlements or the ongoing pension payments.
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