New Part Pension System Explained
A new pension system lets people with reduced hours get some of their pension money. It helps people move towards retirement. The system allows access to pension savings while still working.
The system is called ‘Teilpension’. It is for people who are working fewer hours. They can receive money from their pension savings. This helps them with income during a slower work period. The system outlines how to use pension funds while still employed.
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Highlights
New Part Pension System
The system lets people get some pension money while working less.
Income for Retirees
It helps people get income when they are close to retirement.
Accessing Pension Savings
People can use their pension savings while still working.
Phased Retirement Support
It supports a gradual transition into retirement.
Reducing Working Hours
The system is for people who want to work less.