To receive a pension, you must reach a certain age. For women it is 60 years and for men 65 years. But that’s not all. What also counts is the length of service (20 years for women and 25 years for men) and the amount of contributions collected during this time. It is worth remembering that it is not always profitable to immediately switch to downloading as soon as we have the opportunity to do so. This is because the lower our pension, the more we can benefit from another solution.
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Work or retire? Check what is more profitable
Not everyone knows this, but people eligible to receive a pension do not have to start collecting benefits immediately when they become eligible. In some cases, you can really benefit from this if you decide to continue working and paying contributions. This is because women who are over 60 years old and men who are over 65 years old can benefit from personal income tax exemption. Thanks to this, their monthly salary will be higher by this value, but you can also get the money back by deciding to include the relief in your tax return. This privilege will be used by those who do not receive a survivor’s pension or retirement pension from ZUS, KRUS or uniformed insurance systems. With each year of work, more contributions will be credited to the accounts of people who decide to do so, and thus, the vision of a higher pension. If? Like prof. Gertruda Uścińska, president of ZUS, retiring one year later may increase the benefit by up to 10 to 20%.
Minimum wage and pension. How much benefit can you receive after 30 years of work?
Extending professional activity will be beneficial for people whose expected pension will not be too high. So how much money can someone expect to earn after working 30 years earning the minimum wage? It turns out that greater experience will increase the benefit compared to what it would have been if the person had not decided to continue professional activity. It is estimated that in such a case the amount will reach a slightly higher ceiling than the amount, which will slightly improve the household budget. From March 1, 2023, the lowest benefit is PLN 1,588.44 gross. However, we must bear in mind that the more capital we accumulate, the higher the pension we will be able to count on.
Source: Gazeta
Bruce is a talented author and journalist with a passion for entertainment . He currently works as a writer at the 247 News Agency, where he has established himself as a respected voice in the industry.
