Pension insurance

The statutory pension insurance – cornerstone for financing retirement

The statutory pension insurance is the biggest branch of social security, providing income for millions of pensioners in Germany.

There are two kinds of benefits provided by the statutory pension insurance:

• rehabilitation
• pension.

The pension insurance funds provide benefits aimed at medical rehabilitation and at vocational integration. Furthermore they pay reduced earning capacity pensions, old-age pensions and surviving dependents pensions.

Seafarers are insured by the Knappschaft-Bahn-See

Statutory pensions in Germany are paid by several pension insurance funds. Seafarers covered by compulsory pension insurance employed on German flagged seagoing ships are insured by the Knappschaft-Bahn-See (KBS).

Many retired seafarers who served on board of German ships enjoy their retirement away from Germany. The pensions of the German pension fund can also be drawn abroad. The KBS pays pensions in more than 110 foreign states.

The KBS provides also advice to its members regarding all provisions of supra-national law, i.e. the application of EU-law in the other 27 EU member states, in the 3 member states of the European Economic Area (EEA) and in Switzerland. Furthermore regarding the provisions of a total of 15 bilateral social security agreements with states in Europe and beyond.

Contact details

KBS provides a free-of-charge service telephone with the number 0800 1000 480 80 for any questions regarding statutory pension.