for doctors, dentists and healthcare professionals
Financial coaching with a focus on doctors and healthcare professionals
Congratulations, you’ve become a doctor! It hasn’t been easy for you so far.
You’ve now completed 12 semesters of human medicine, right? You’ve passed your second state examination?
Now you’ve become a junior doctor and will be training for 4 to 6 years to become a specialist.
On the one hand, there is the demanding training, and on the other, there are on-call duties and overtime. That is why you have our respect and recognition for the hard work you do for our society!
You must love your work and have a passion for it to have overcome all the hurdles. We also love our profession and want to provide you with the best possible financial support.
Coverage through the pension fund
Are you a doctor in salaried employment or do you have your own practice? Doctors in Germany are generally insured through the pension fund of the respective medical association. Unlike pension insurance, pension funds are financed on a capital accumulation basis. This means that the contributions paid are set aside and earn interest for future pensioners.
Even though the pension fund is financed on a capital accumulation basis, the low interest rate environment has an impact on pensioners in the pension fund. The pension funds are trying to counteract this by building up reserves. Some are investing more heavily in equity funds or expanding their real estate portfolios. Nevertheless, pensions will still be low because interest rates will remain low in the long term.
In contrast to members of the pension insurance scheme, recipients of the pension fund are significantly better off in old age. Nevertheless, we quote a doctor from our consultation: ‘The pension from the pension fund is still far too low to finance retirement!’
It is therefore essential to make private provisions. There are several options available:
bAV occupational pension scheme
Rürup, basic pension
Flexible pension provision
Real estate as a form of pension provision
Duales Studium Sales & Management B.A. (w/m/d)
Hamburg hybrid 01.06.2023
Ausbildung zum Kaufmann für Versicherung und Finanzen (w/m/d)
Hamburg hybrid 01.06.2023
Werkstudenten | Online Marketing
Remote bundesweit 01.06.2023
Occupational disability pension from the pension fund
Members of professional associations such as doctors, dentists, veterinarians, solicitors, lawyers, architects, tax consultants and auditors receive occupational disability pensions from the pension fund. However, these are very rarely paid out. You will only receive benefits from the pension fund if you are completely unable to practise your profession (in the event of total disability).
Is additional private occupational disability insurance required?
What are the differences? (See Schleemann)
The most important points at a glance:
-> Pension schemes only pay out in the event of 100% occupational disability. In other words: almost never!
-> Only a minimal percentage of pension fund members (0.4% to 0.8%) meet the requirements to receive an occupational disability pension from the pension fund.
-> The amount of the occupational disability pension from the pension fund is far from sufficient to maintain your standard of living. There is no reliable inflation adjustment.
Private occupational disability insurance is therefore essential for these pension fund members!
Doctor fees Private health insurance
Have you recently become a junior doctor, doctor or dentist, or have you been one for some time? Then have a specialist check whether private health insurance is an option for you. This is particularly important if you want to become self-employed in the future, e.g. as a specialist or dentist.
The advantages of private health insurance:
-> Better benefits, e.g. beyond the standard fee schedule
-> Rates for doctors or dentists are up to 20% cheaper, as doctors visit the doctor less often
-> Contributions to doctors’ and dentists’ rates are very stable
-> Obligation to contract or accept new doctors entering the profession
The disadvantages of private health insurance:
-> Fertility treatment difficult from the 3rd child onwards
-> Children must be insured individually
-> If the wife/husband remains a housewife or househusband, they must be insured individually.
-> Medical records too extensive?
Regardless of this, it is important to seek comprehensive advice. Private health insurance is a vital decision and should not be taken lightly.
It is therefore important to seek advice from a specialist at an early stage. The earlier you make the decision, the cheaper your private health insurance will be and the more reserves you will build up for your old age.
Testimonial | Dr. med. Lisa Markhardt
