Partial retirement

What does partial retirement mean?

Partial retirement is a gradual transition to retirement in which the workload and income are reduced in stages. Instead of leaving work abruptly, employees from the age of 58 can reduce their working hours in several stages (maximum of three stages) and draw retirement benefits from the pension fund in the corresponding amount. The first partial withdrawal must correspond to at least 20% of the retirement benefits. The period between the partial retirement steps must be at least one year.

For example, a person could reduce their workload from 100% to 70% and draw 30% of their retirement benefits accordingly. Later, they could reduce their workload further and claim additional retirement benefits. Partial retirement can only be taken with the consent of the employer.