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Goodbye, Riester? The insurance industry counts on "Bürgerrrente"

To phrase it carefully, the Riester-Rente does not have a good image. Whether it can be reformed is still being negotiated in the political arena. In case the answer is negative, the Versicherer-Gesamtverband GDV has now developed an alternative concept in a working group under the leadership of the head of Allianz Lebensversicherung, Katja de la Viña.

The concept is intended to benefit low-income households in particular: "For them, a simple, standardised old-age provision product - the citizen's pension - with an easy-to-understand, attractive subsidy offers real added value," the authors emphasise. The aim is to make pension savings more attractive, not least through higher potential returns, which would be made possible by lowering the guarantee level; with Riester, 100 per cent of the paid-in contributions must be guaranteed. The pension is to be paid for life, but for at least ten years, so that the claims can also be inherited during this time. In addition, partial withdrawals of the capital saved at the beginning of the pension should be possible.


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