With a simple formula you can calculate your pension points per insurance year yourself!

For each employee subject to a pension promise, pension points are calculated on the basis of the pensionable income.

How to calculate your occupational pension yourself:

Here’s how you calculate your pension points per insurance year yourself: Divide a twelfth of your annual pensionable income reported each year by your employer by the reference income of EUR 1,000.00. Then multiply the result by the respective age factor. To do this, use the following formula:

Pension points

Illustration: the example shows the calculation formula for the VBLklassik pension points. The result, rounded off to the second decimal point, gives your pension points for the year in question.

Add up the pension points acquired in the compulsory insurance scheme, including the pension points originating from the starting credit and your bonus points.
pension points from the starting credit
+ pension points from pensionable income
+ any pension points from social components
+ any bonus points
= Total of all pension points

 

Multiply the total of all pension points by the base amount of EUR 4.00. The base amount is used to convert pension points into a sum of money. For each pension point you receive a monthly occupational pension of EUR 4.00.

Total of all pension points x EUR 4.00 = monthly occupational pension

The result is your monthly occupational pension.

Example calculation        
Employee       born on 14.12.1953
Insured event: old-age pension for long-term members       from 01.01.2018
Insurance history

Year		 1/12 of the
annual income		 Reference income Age factor Pension points
Assumed
starting credit		       87.70
2002 €2,074.20 €1,000.00 1.2 2.49
2003 €2,148.50 €1,000.00 1.1 2.36
2004 €2,312.80 €1,000.00 1.1 2.54
... ... ... ... ...
2016 €4,228.31 €1,000.00 0.8 3.38
Sum       136.29
Total pension points when the insured event occurs 136.29 PP
Formula: 136.29 PP x base amount €4 = €545.16
Less reduction of the occupational pension by 5.70% due to an early claim €31.07
Occupational pension entitlement/claim €514.09

Pursuant to §35 VBL Statutes, for each month for which the access factor according to §77 SGB VI is reduced, the occupational pension decreases by 0.3 %, but by no more than a total of 10.8 %.

Additional information.

The reference income is an actuarial operand established by the parties to the collective labour agreement for calculating the pension points. It amounts to EUR 1,000.00.

The age factor (see §36 par. 3 VBL Statutes) is an operand which, with regard to the pension promise, includes the interest effects of the (notional or fictitious) contribution payment on which the points model is based. The younger the employee is, the higher the value given to the pension points, because the interest accrual period is longer. The age factor takes into account an annual interest rate of 3.25 % during the deferred entitlement/claim phase and 5.25 % while the pension is being drawn. It is based on the following table. The age is deemed to be the difference between the current calendar year and the year of birth.


Table of the age factor

Age Factor Age Factor
17 3.1 41 1.5
18 3.0 42 1.4
19 2.9 43 1.4
20 2.8 44 1.3
21 2.7 45 1.3
22 2.6 46 1.3
23 2.5 47 1.2
24 2.4 48 1.2
25 2.4 49 1.2
26 2.3 50 1.1
27 2.2 51 1.1
28 2.2 52 1.1
29 2.1 53 1.0
30 2.0 54 1.0
31 2.0 55 1.0
32 1.9 56 1.0
33 1.9 57 0.9
34 1.8 58 0.9
35 1.7 59 0.9
36 1.7 60 0.9
37 1.6 61 0.9
38 1.6 62 0.8
39 1.6 63 0.8
40 1.5 ab 64 0.8