Postponement

In private pension insurance, postponement is the time between the start of the contract and the start of the pension payment.

Here is an example:

On January 1, 2007, a 35-year-old person takes out private pension insurance, which is supposed to provide a pension at age 65 . In this case, the grace period is 30 years.

The contribution payment period cannot be longer than the deferred period. However, it is possible that the contribution payment period is shorter. One then speaks of a shortened contribution payment period.

The pension payment begins after the start of the contract. So it is a deferred pension. In the case of pension insurance without a deferral period, one speaks of an immediate pension insurance. This is always agreed for a one-off fee.