SPD-close to Friedrich-Ebert-Stiftung (FES) is considered to be a low profile, to sympathize with ideas of liberal Union, politician, Friedrich Merz. The reason, according to a recent report from the Foundation for a private pension, however, is pursuing the same goal: people should buy more shares. But instead of demanding tax benefits, such as the CDU party chairmanship candidate a. D., the authors provide a different model: a state-organized pension account, with access for almost all of the workers – as an Alternative to the private-economically organized Riester pension.
That the statutory pension is no longer sufficient alone for life, for years, the consensus in German politics. Contribution rates for pension insurance were capped. Who is currently in retirement, whose pension level is also after 45 years of contributions currently, only about 48 percent – tendency falling. Actually, since the Riester should help pension. However, many Riester contracts are often expensive, the commissions can go into the thousands, even the now-higher allowance of per year is 175 Euro can’t replace that often.
Accordingly, the level of peaks of Union and SPD agreed in the coalition agreement, to “do private pensions and fairer” to develop. For this purpose, a “process of dialogue with the insurance industry” should be initiated in order to create a “standardized” Riester “product”.
at Least, as regards the second part of this project, it could represent the FES-authors* and by consumer protection groups supported pension account-a solution. However, the account is intended to be an offer of social insurance and not the private insurance industry – with benefits for the savers. So it could look like this:
Easy and safe: the organized default product , based on the needs of the average German. Access to the account to all have who have paid into the statutory pension scheme. The provider should invest the money in a broad range of exchange-traded index funds ( ETF ). The risk is to be minimized, for example by a guarantee of the paid-up capital. A part of the Surplus to be paid into a reserve pot for a bad stock market years. The consequence of this approach: The returns are likely to be relatively low – the risk of losing money, but also. An Online survey of the authors of the FES report, according to the but this is also the Wish of the German pension: The administrative costs are to be compared to that of credit institutions sold Fund low , because there is no profit aspiring Bank would be behind the account. The authors assume that the capital investment costs of just 0.25 to 0.35 per cent. Through the investment of funds by pension account, the reductions in the statutory pension balance will be paid as in the case of Riester contracts four per cent of gross salary, up to a maximum of 2100 euros per year. And according to the authors, should – if the legislature agrees, the state Riester subsidy may be granted. The statutory pension insurance is to use the Expertise of external asset managers. Legally, the money paid for the property of pension savers remain with a trust solution is protected from political access.
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the question Remains: How realistic is such a move? Approaches and ideas, in order to safeguard the statutory pension, there are many Of Germany’s pension up to the target’s pension as part of the company pension scheme. The idea of the pension account differs mainly in that it is placed very wide, and at the same time would be easy. And even if there is no interest rate guarantee or buy-back values, the authors on the Basis of an extrapolation of the past years of stable returns:
In the coalition agreement specifically mentioned the insurance industry, however, is likely to meet the idea of the retirement savings account, however, of criticism. Finally, about the state support of Rürup and Riester is attacked – products part violently. The government parties should opt for a pension account you would need to have an answer.
* authors include: Jürgen adjusting the plow (the consumer Commission of Baden-Württemberg and by 2018, editor-in-chief of “Eco-Test”), Barbara Sternberger-Frey (assistant of “Eco-Test”), as well as Claudia Tuscherer (Deutsche Rentenversicherung).