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Since the year 2002 the Private provision for the old age has been promoted, this one was introduced as Riesterrente named after the then acting federal Minister of Social Affairs Walter Riester. Get more detailed information in the following page.
Riesterrente an additional private lifelong pension care of employees and officials is promoted by the state. With the Riesterrente pension a great portion of today's employees getting into poverty due to the diminishing pension standard can be prevented.During the Saving phase the state gives privilege and grants if necessary additional tax advantages in the form of raises depending on the height of the marital status and the number of children. Till now, over 8 million people have provided in addition for their old age and it increases day by day.The general association of the Germans life insurance economy report that last year more than two million Riesterrente pensionpolicies have been signed.
The supports:
The promotion of the additional Altersvorsorgung is fixed in the one coming revenue law § 10 ares, additional retirement provision. The promotion of the additional retirement provision consists € (performance of one's own and raise) of raises after the example of the child allowance regulation or, if more favorable, in the extra expenditure discount of the economizing performances in the year up to 1,575 € 2007 and as of the year 2008 2,100.
Into dependence of contributions to be made of one's own a raise is paid. She consists of a basic raise and a child raise. The raises amount:
Basic raise child raise
- within the years 2006 and € 2007 114 € 138
- as of the year 2008 154 € € 185
The raise is credited to the Riester contract if the justifiable one makes a contribution least of one's own. This is 4% of the pension insurancepayers takings of the previous calendar year in the year 2007 3% and as of the year 2008 or for officials of the obtained emoluments less the raises, at least € however 60 in the year. At a less contribution of one's own the raise is cut correspondingly.
Further support of the Riester pension
On November 11th, 2005 coalition agreement has communicated the Federal Government on this, in this to increase the child raise. The child raise which anyway amounts to € 185 per child as of 2008 shall be increased to € 300 though for children only who were born after December 31st, 2007.
To increase the incentive to complete a Riester pension already at the beginning of the working life . Riester professional beginner bonus is planned in the year 2008 where all 21 year old working gets a single bonus of 100 Euros.
In addition, it is planned better to integrate self-used residential property into the promoted retirement provision.
You are most welcome, if you wish for more information or a piece of individual advice, to contact us anytime.
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pensions 
