Retirement provision: is the fund for everyone coming soon? – Business


With the next federal government there is likely to be a new pension model that will replace the Riester pension. It should be simple, safe, cheap and profitable. What that means for savers.

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Thomas Öchsner

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Klaus Müller, Germany’s top consumer advocate, is optimistic: “No matter what the next government constellation looks like, there is a chance of a fresh start,” he says. And it is also clear to him that state-subsidized private old-age provision must in future generate good returns for savers, be simple and uncomplicated and cost as little as possible. “The insurance industry sells products that are only reasonably lucrative because of the Riester subsidy, but otherwise far too unprofitable,” criticizes the head of the Federal Association of All Consumer Centers (VZBV). That is why more and more customers would decide “not to save contracts any further”. So what do pension savers have to prepare for in the future?

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