In case you have a reduced earning capacity before starting retirement, you will receive a payment from the Mars Pension Plan – as a benefit from Mars, but also from your own contributions.

As an annual reduced earning capacity pension, you will receive 15% of your contributory annual income up to the CAC. If your income is above the CAC, you receive an additional 45% on the part of your contributory annual income that is above the CAC – because for this part of your salary you would not get any benefits from the statutory social security system.

As a rule, the reduced earning capacity pension from Mars is paid as a monthly pension. It will be paid as long as the reduced earning capacity persists and is increased by 1% every year. What happens if you should experience a reduced earning capacity beyond the age of 65?

There will also be a benefit paid based on the balance of your contributions in Steps 1 to 3: This is at least double the amount of the contributions you deposited so far. This means: If your contributions have not at least doubled taking into account accumulated interest and the Mars contributions in Step 2, Mars tops up the amount. This is to provide especially for younger associates who have not yet been able to accumulate substantial assets.

You can choose if you want this benefit to be paid as a one-off lump sum or in installments. If you accrued more than 50,000 euro, you can also opt for regular pension payments. Combining all three payout methods is possible as well – the same as with your retirement pension.

By the way: you continue to be protected, even if you leave Mars. You (or your family) are in any case entitled to the benefit based on your contributions. And if the Mars contributions are already vested, you also receive a reduced earning capacity pension.

<b>Coverage in case of death.</b>

With the Mars Pension Plan, your family is also provided for: should something happen to you, your family will be paid a survivor’s benefit. Laws determine exactly who may receive this benefit: spouse, registered common-law partner or children entitled to a child allowance. Background: this benefit is deemed to provide for your immediate family members that live from your salary. Therefore, it is not inheritable.

In case of death before entering retirement, the survivor’s benefit consists of two parts: a benefit from Mars and a benefit based on your own contributions.

The benefit from Mars encompasses paying your spouse or registered common-law partner 60% of your <a title=”Glossary” href=”http://mars-altersversorgung.de/en/glossary/” target=”_blank” rel=”noopener noreferrer”><span style=”text-decoration: underline;”>reduced earning capacity</span></a> pension, which at the time of your death could have theoretically been claimed by you. To find out how the reduced earning capacity pension is calculated, go <span style=”text-decoration: underline;”><a title=”Term Coverage” href=”http://mars-altersversorgung.de/en/mars-pension-plan-classic/supplementary-plan/term-coverage/”>here</a></span>. Children entitled to a child allowance receive 20% of the reduced earning capacity pension, if a survivor’s benefit is paid to a partner/ spouse at the same time, or 40% if there is no benefit being paid to a partner/ spouse. As a rule, the benefit will be paid as a monthly pension and increased year on year by 1%.

Then there is the additional survivor’s benefit resulting from the accrued balance of your contributions in Steps 1 to 3: Your family as a minimum will receive double of what you had deposited in contributions so far – and if the value of your contributions has not at least doubled – taking into account interest and Mars contributions in Step 2 – then Mars tops up the amount (the same as with the reduced earning capacity benefit). Here too, we want to provide especially for younger associates who have not yet been able to accumulate substantial assets.

The survivor’s benefit from your own contributions can be paid – same as with the retirement or reduced earning capacity benefits – as a one-off lump sum, in installments or (for an accrued balance over and above 50,000 euro) also as a regular pension. Combining all three payout methods is possible as well.

The benefits described here give your family financial security, should something happen to you during your working life. Even after entering retirement you can provide for the event of death by deciding in favor of a pension that includes survivor’s benefits. To find out more, go to <span style=”text-decoration: underline;”><a title=”Payout” href=”http://mars-altersversorgung.de/en/mars-pension-plan-classic/pension-plan/payout/”>Payout</a></span>.