Riester pension: This is how you protect yourself against high Riester costs

This article is an acquisition from Capital, Capital's premium digital offering.

Riester pension: This is how you protect yourself against high Riester costs

This article is an acquisition from Capital, Capital's premium digital offering. For you as a stern PLUS subscriber, it is available exclusively here for ten days. It will then be available again exclusively for Capital subscribers at www.capital.de/plus. Like stern, the business magazine Capital belongs to RTL Deutschland.

Riester contracts usually end with a double disappointment: the final balance of most contracts is poor because the returns are tiny despite years of savings. On average, the return after costs is only around 1.5 percent, calculated the consumer organization Finanzwende. If you subtract inflation from this, most savers suffer real losses - and no gain despite basic government support. However, at the start of retirement, the balance must still be annuitized when it enters the payout phase. This is what the law says. At this point, the providers cash in heavily a second time:

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