Riester providers are legally obliged to guarantee 100 percent of the contributions paid by pension savers and state allowances. That is becoming increasingly difficult – many companies are therefore withdrawing from new business.
(Photo: dpa)
Frankfurt On June 1, 2022, Dekabank will completely stop its Riester business. This was announced by the fund subsidiary of the savings banks. With Deka, the third large provider of Riester pensions is giving up its offer in this field. The “Deka Future Plan” in the Classic and Select variants are affected. Existing contracts would be continued for all Riester products.
“The reason for the withdrawal is the existing premium guarantee, which is making it increasingly difficult for savers in the current low interest rate environment to generate a return on deposited amounts,” said Deka. At the beginning of November, Deka had already discontinued sales support and advertising for its “Deka Future Plan” product, thus canceling the sales commission for savings bank advisors for this product. The second product, “Deka Bonusrente”, has not been advertised for years.
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