The pensions Commission, “Reliable generation contract” proposed in its opinion, to reinforce the funding instruments for private pension provision as a whole. For Riester contracts, for example, a national Online platform for Commission-free offers could come.
This is not about the consumer centers far enough. The solutions remained halfway standing up, complained they. The organizations advocate for a state-organized “extra pension” as a cost-effective Riester Alternative. Your main critique is: providers of Riester policies charge their clients with high commissions.
Riester-pension scores with the state promotion
in This case, the Riester pension is a very important pillar of the current private pension provision. For all the criticism of the bureaucratic requirements: The Federal government supports with annual grants. Couples with children will especially benefit. This allows, for example, single parents, money for the rest to create a stand. FOCUS Online
BdV calls “base depot-Provisioning”
The Federal government Insured (BdV) sets out on a completely new proposal for a Reform of the private pension plans on the table. You should also apply for the Riester pension. BdV explained with regard to the proposals of the pension Commission: “In terms of private Pension provision and the Riester pension, you will remain in the Nebulous, or accepts the claims of the insurance lobby.”
Axel Kleinlein, CEO of BdV, is even clearer: “The pension Commission has failed to seize the opportunity, recommendations for a correction of birth defects of the Riester pension prepare and the private Pension plan to make it ready for the future.” Instead, the experts put insurers in the life “on the disabled, the concept of a dying industry”.
The BdV favored instead his “base depot-Pension”. The organization declared that it was “a private concept for the capital-funded pension scheme”. The Federal government relies on “freedom and competition in the pension savings”. Everything you know about your pension
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Easy system in stock exchange products.
A product description explains the approach in more detail: The “base depot-Pension” includes “in addition to Bank deposits, custody and administration of securities or cooperative shares”.
So Riester will be able to invest-saver in many stock exchange products such as shares, funds and ETF’s (index funds). Self endowment life insurance contracts, to be approved for the “base depot-Pension”. Thus, the traditional savers were for the new concept to win. So much money you get at the age click Here for pensions calculator
BdV-speaker of the Board Kleinlein said FOCUS Online, on enquiry, that it is in the proposals for reform is to make private pension provision in the future easier and cheaper. Therefore, an investor should be able to leave its existing Depot to explain to a “base depot-Pension”product and with its help, for his retirement savings. That would be connected only with the condition that the custody account-withdrawals are only allowed in age.
for More flexibility should also apply to the Form of return flows: The customer should be able to choose whether he gets paid out of the capital in a lump sum or over a specified period of time or as a monthly pension. The proposal is contrary to the current retirement forced in the case of Riester pensions.
Tax incentives
As a part of the state to promote the BdV favourable tax environment. Verbatim: “one-time, and part-withdrawals (based on funded contributions) will be dependent on the age at the time of the withdrawal will be taxed”. The older the Precautionary, the lower the tax burden should be.
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so Far applies in the case of the Riester pension:
- savers can be a life-long pension to pay off. The beginning of i. d. R. is located at the entrance to the state old-age pension. Who has completed, prior to 2011, a Riester-Police, the withdrawal up to the 60. The age of prefer.
in addition, there are two other ways:
- Direct payment of 30% of the saving sum. The remaining 70 percent be used for the monthly pension payment. Attention: The payment is added to the taxable income. Therefore, it is usually cheaper to put this collection at the time of retirement.
- In a small monthly pension: payment of the entire sum in an amount (the”severance payment”) is possible. In the year 2020, the limit is 31,85 Euro monthly Riester pension.
in addition, the BdV calls for a massive reduction in cost. Therefore, a reformed Riester is intended to inform pension investors in detail about how much percent of the savings amount for the provider cost in the invoice. This is likely to arrive at Riester-savers well.
the Ifo Institute is critical of the report of the pension Commission
the renowned Ifo Institute described the results of the pensions Commission as insufficient. “The Commission has clearly worked out that the financing of the statutory pension is not guaranteed for the long term.” said Joachim Ragnitz, Deputy managing Director of the Dresden branch. The Commission Sion were to draw any further conclusions from the findings.“
Union’s own pension Commission expressed a
Under the political parties, the CDU dissatisfaction with the Commission’s proposals. You set up a working group, as the President Annegret Kramp-said Karrenbauer. The working group should evaluate the results of the pensions Commission “, and then also arranged to discuss how we deal with these results”. Especially in the party of young the young Union and the Central Association of the recommendations will be considered as not sufficient to secure the pension in the long term. Parts of the party are considering not to burden Children with higher pension contributions. This would flush more money into the pension Fund.
The joint welfare Association was also disappointed. In view of the demographic development and the fact that the Generation of the so-called baby boomers go from this year into a pension, the Association of the Grand coalition government to take decisive and immediate Action. The statutory pension insurance had to be strengthened as the Central Foundation, the level of pension secured and again to 53 per cent, be raised. Everything about the development of the Corona-crisis
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