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Who benefits the most No more Riester pensions – but what now?
The system becomes more flexible.
For years, the Riester pension was THE retirement provision. But now the model is being replaced. The successor should above all be simpler. But what exactly does this mean for consumers? And who benefits from the new model? Thomas Hentschel, financial expert from the North Rhine-Westphalia Consumer Center, explains!
Low earners and families benefit the most
The new model is worthwhile for people with low incomes and families. “For the first 360 euros that I save from my own wallet, I get 50 cents per euro, so a total of 180 euros on top,” explains financial expert Thomas Hentschel from the consumer advice center.
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From your own contribution of 361 euros to 1,800 euros you get 25 cents. This means up to 540 euros per year in subsidies from the state. Anything over 1,800 euros will not receive additional funding.
Keep Riester, pause, change – or quit?
In addition, if you save just 25 euros, you will receive the full child allowance of 300 euros per child per year. Self-employed people will also receive funding with the new system and can therefore participate on an equal footing.
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However, Thomas Hentschel also recommends not rushing anything. He advises leaving the current Riester pension in place. As a consumer, you have the option to keep, pause or change the contract at any time – but under no circumstances to cancel it.
What pitfalls there are when terminating Riester and what options the new system still offers – you can see all of this in the video above!
Sources used: own RTL research
