Private pension provision is gradually becoming an imperative. After all, for many recipients, the state pension is barely enough to cover all their needs. According to the Federal Ministry for Senior Citizens, every fifth person over the age of 80 is affected by poverty in old age. The state compensates for the deficits in this area elsewhere: Riester and Rürup pensions promise state subsidies.
Savers therefore often confuse these products. There are notable differences. These consist, for example, of the type of funding, the primary target group and the contractual details.
While the Rürup pension can be particularly worthwhile for the self-employed, the Riester model is primarily profitable for families. The head of the Handelsblatt investment team, Markus Hinterberger, explains this in the current episode of Handelsblatt Today: “At Riester I can get grants for myself, but also for my partner and, above all, for the children.” Hinterberger provides information in the podcast about the advantages and disadvantages of both products.
More: Comment: Companies harm their interests if they delay write-offs worth billions
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