The right time to start retirement – work & career

Am I too old for my job? Even the current US President Joe Biden recently had to ask himself this question – in front of the eyes of the world. But it is also a question that concerns normal working people at the checkout, in the office and elsewhere.

Regular retirement may be clearly regulated, but what if I realize that I want to retire beforehand or, on the contrary, want to work longer? Industrial psychologist Sebastian Jakobi and pension consultant Rudi Werling give tips for the time surrounding the big change between working life and retirement.

How do I know if I’m too old for my job?
In principle, the human brain is capable of learning something new well into old age. “But the older I get, the more difficult it can be to learn new things or recover from the demands that life presents,” says Sebastian Jakobi.

If you notice persistent feelings of exhaustion, a reduced ability to concentrate and longer regeneration times after strenuous days, these may be indications that the body can no longer withstand the previous workload.
Likewise, experiences of being overwhelmed by new technologies or a strong feeling of resistance to career changes can be signs that you are getting too old for your current professional life.

The employer wants me to leave, but I don’t – what should I do?
If your own performance is questioned, you quickly feel personally attacked. Before entering into a conflict, work psychologist Jakobi advises self-reflection first. “It may be that the first reaction is resistance.” In order not to remain in defense mode, you should ask yourself whether you really want to continue working – or whether it’s just about asserting yourself. From an objective point of view, a separation might not be the worst thing at all.

To gain clarity for yourself, conversations with trusted colleagues, family or career advisors can help. The next step is communication with the employer. “I should also investigate the question of whether the employer actually wants to part with me.” Because sometimes it’s just a feeling, says Jakobi.

Feedback on one’s own work performance can help to compare one’s self-image with that of others. And: This gives the employer the chance to appreciate the time contributed to the company.

Not ready to retire: what can I do?
If the conflict remains between employer and employee, it may be worth seeking help. Labor law advice can, for example, help to examine severance pay regulations.

Anyone who then separates from their employer and still wants to remain professionally active should actively prepare for the job market. So check out perspectives and update your CV. “When I have it in my drawer, I often feel more comfortable,” says Jakobi. What can also help: create or update a profile on a job portal. “There is also the possibility of acting as a consultant or mentor,” suggests the psychologist.

Depending on the industry, employer and your own wishes, it may make sense to look for solutions for a transition between working life and retirement. According to Pforzheim pension consultant Rudi Werling, one option is so-called partial retirement. This is an agreement between employer and employee, which can take different forms. A popular variant is the so-called block model: in a total of four years of partial retirement, you work full-time for the first two and then not at all in the second block. For example, you will receive half your salary for the entire period – but depending on the agreement, it can also be more.

Retiring early: What options are there?
While some people cannot imagine life without work, others want to get out of working life as early as possible. The reasons for this are individual – the pension models are correspondingly diverse. Pension consultant Werling advises: be sure to seek advice in good time.

Basically, the standard old-age pension is the standard. The corresponding limit indicates the age from which you are entitled to the full pension without deductions. This will be increased from 65 to 67 by 2031, depending on the year of birth.

Another option for retiring without deductions is the so-called old-age pension for those who have been insured for a particularly long time – this is achieved after 45 years of insurance. Anyone who has been insured for 35 years can retire with a discount, which means retirement pension for those who have been insured for a long time. Important: Individual age limits also apply here, which you can find in your pension information or inquire about in consultation.