In the public sector, special rules sometimes apply to pensions. When can you retire and what do you need to consider?
There are different age limits for retirement in the civil service. The normal age is 67 years, but in some cases it can be reduced to 63 years. In this case, however, you must meet certain requirements, such as a long insurance history. It is at least 35 years. If you are a civil servant, early retirement is also possible under certain conditions.
Upon dismissal from public service
If your circumstances change and you want to leave the public service, your supplementary pension will remain in place. This has the advantage that you will continue to be insured with possible additional insurance such as VBL once you are employed by another public sector employer.
Transition to a free economy
If you leave the public service and go into the private sector, you will generally join the public pension scheme and pay pension contributions into it. Previous pension contributions you have paid in the public service are saved and stored in your pension account.
When you retire, your public and private sector contributions will be combined and used to calculate your pension. Pre-contribution time you spent in the public sector counts in the same way as time you did in the private sector.
Early retirement from public service
Early retirement in the public sector can make sense in a number of situations – for example, if you want to change careers or your health no longer allows you to continue working. Early retirement can also be a relief when it comes to taking care of family members.
However, you should carefully consider your financial implications, as early retirement may result in a reduced pension. One of the reasons for early retirement from public service may be that you are no longer able to do the job due to health reasons.
Employees are covered by the relevant collective agreement. An employee who already has a long insurance period and wants to retire early can also take advantage of early retirement. However, in both cases individual consultation and study of the financial implications is recommended.