All about Riester
Retirement at the age of 65 or two years more likely to retire? The headlines are determined by the pension discussion. Added to this is the current figure of the Federal Employment Agency: more than one million retirees continue to work to earn salaries instead of pensions. All the more important is a suitable provision for retirement. Since 2002, there is the Riester pension - a privately funded but funded by state allowances pension plans, named after the then Labor Minister Walter Riester. No other model can benefit more from the state. Yet, not all human beings may be "rites."
Who is allowed and who can not riester?
Over 12 million Riester pensions have already been completed. But not all working people can do this. Benefit from the Riester pension: Employees and vocational trainees who pay into the statutory pension insurance Officials, soldiers, judges, farmers, public officials, disabled employees in recognized workshops, recipients of unemployment, sickness, injured or transitional benefits, recipients of disability pension , Recipients of civil servants' benefits due to invalidity, recipients of early retirement benefits, child-rearing parents, minor employees who renounce their freedom of insurance, military and civilian service providers, voluntary national service and voluntary service, self-employed persons liable for compulsory social insurance, people caring for a private person at least 14 hours per week, spouse of a Riester-entitled, even if they are not entitled themselves.
Excluded from the Riester pension are: workers who are voluntarily insured by law, students who are not subject to pension insurance, p
This is how the Riester pension works
The Riester pension is a private supplemental pension, which can also be taken out in addition to the pension. This can be done at a bank or an insurance company. Here, the customer simply concludes a savings contract. How much money per month to save the pension, he can decide in a certain frame itself. Also, the contributions are changeable. This savings contract is completed until the pension. To the privately paid money, the state shoots another share. That's how capital grows over the years. There are also returns and interest. The contract is concluded for a long time and should therefore be well considered. Bills of exchange and termination can cost a lot of money.
There are several variants, such as "strangled". Fund Saving: This variant is particularly suitable for young people, their savings period is 25 years or longer and it offers the highest return opportunities. Because here the money is invested in funds. The disadvantage: It is difficult to estimate how much the fund investment is worth in the end. However, there is a "money-plus-allowance-back-guarantee" here. Riester insurances: This is the classic Riester pension, which is recommended for people in the middle of life. Here the money is invested in a private pension insurance. This variant is a safe, but at the same time an expensive one. In addition, the consultants usually earn high commissions on this system. Bank savings: This offer is particularly suitable for older people.
The amounts are paid into a savings account, usually no closing or low management fees. The duration can be short here too. Living Riester & ldquo ;: This variant is designed for home finance and was added in 2008. The austerity is complicated, but the effort can be worthwhile for home builders. Here, the state share can also be used rather. The basic principle of this Riester variant is the assumption that those who live in retirement without rent have covered the most important things.
The state share
No matter which Riester form is chosen, the state share is the same. It consists of two components: direct allowances and tax savings. The allowance itself is up to 154 euros a year. 185 euros are added per child, children born after 31.12.2007 bring up to 300 euros. Under 25-year-olds receive the so-called career starter bonus of 200 euros. How much the state allowance will ultimately be is calculated by the Central Allowance Office for Old Age Assets (ZfA) in Brandenburg.
In addition, the savings can be deducted from the tax - up to 2100 euros per year. However, the savings will be deducted from the allowance. Who gets high allowances, has only a small tax advantage. Childless people, on the other hand, can benefit more from the tax return if they pay a large amount of their own. Attention: The payment of the pension will be fully taxed again. So the state finally gets back a part of the tax savings!
The Riester pension is paid at the start of retirement, ie when the payments from the statutory pension fund begin. This is between the age of 65 and 67, depending on the age of the saver. Those who retire sooner may be more likely to receive contributions, but not before the age of 60. For new contracts from 2012, the payout can not start before the age of 62. The pension is paid until the end of life. The amount depends on many factors: amount of the deposit, duration of the contract, type of pension and much more.
Many providers assume a high life expectancy - the monthly pension is therefore reduced. Even a one-time fee is possible at the beginning. However, this may not exceed 30 percent of the amount available for retirement. If you postpone the payment date, you can increase your monthly contribution. Those who want to pass on their Riester pension can do so only with restrictions.
Advantages and disadvantages
As with all offers, the Riester pension has advantages and disadvantages. It is good that a Riester account can not be seized. Therefore, this capital is not counted in the case of Harzt IV. On the other hand, the money is not lost: each provider must guarantee the fully paid sum as a minimum pension. A disadvantage of the Riester pension is premature death. If a spouse dies in the payout phase, the transfer must have been contractually agreed to benefit widow or widow. The pension is credited to the basic pension in old age and must be fully taxed. Controversial is the pension, because the classic variant, the costs are high and can use up almost all returns. Therefore, the legislator has obliged the providers in 2012 to be more transparent. Anyone considering this type of pension should definitely compare beforehand.
Artikelbild: © Zurijeta / Shutterstock