A method for determining an angular position of a rotating component is disclosed. A sensor system is positioned at a radial distance from an axis of rotation of the rotating component. A magnetic ring is arranged fixedly and concentrically on the rotating component, generating a magnetic field that changes with respect to the sensor system. The sensor system detects the magnetic field in which a signal is captured and evaluated with respect to the angular position. Errors in the measurement of the angular position can be corrected. The signal captured by the sensor system is evaluated with respect to the amplitude information of the magnetic field. A correction parameter is determined from the amplitude information, and an angle error is of the angular position is determined based on the correction parameter. The angle error is used to correct the angular position.