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Early retirement penalties in Germany rise sharply

Original: abschläge bei vorzeitiger rente

Germans who retire early are facing noticeably higher deductions from their pension payments. Reports note that many people are accepting the financial losses to leave work sooner, and the growing size of the Abschläge, the penalty for claiming before the standard retirement age, is drawing attention to how costly early retirement has become in Germany.

Why now: New figures showing early retirement pension deductions have risen significantly are prompting debate about the cost of retiring before the standard age.

Deutsche RentenversicherungGermany

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