With the help of the pension award formula (Rentenformel), the monthly pension is calculated on the basis of the individual employment history. All pension-relevant periods from the contribution-paying insurance history are observed in the pension award formula. To calculate the monthly gross pension, the earning points acquired are multiplied with the age factor, pension factor, current pension value, and the pension type factor.
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20. April 2022 | International Labour Markets
The war in Ukraine, international trade and price effects on the German economy
Russia’s exports account for a large share of world trade in a few goods and commodities classes. These are most notably nickel, fertilisers, mineral fuels and mineral oils, cereals and wood. Their ...read more
19. April 2022 | Labour Market, Employment and Social Policy
Covid-19 crisis, Ukraine war and fear of stagflation: Why we need a new supply policy
Inflation is currently at a record high and will continue to go up as a result of the war in Ukraine and sanctions imposed on Russia. Considering the shortages in the economic environment, there is a ...read more
6. April 2022 | Series "Covid-19 crisis: consequences for the labour market"
With its numerous surveys the IAB will shed light on the coronavirus mystery
The Covid-19 crisis has led to a dramatic increase in the demand for information both in politics and practice. This poses an enormous challenge to the research and counselling activities at the IAB. ...read more