Finance forum: Retirement provision


In a society in which people are living longer and the birth rate is constantly falling, old-age provision has taken on a central role. The German pension system is based on what is called “three pillars”: 1) statutory pension insurance, 2) company pension insurance and 3) private pension insurance. Company pension insurance is a service provided by the employer. There are two private additional pension schemes funded by the state: the “Riester subsidy through allowances” and the “Riester subsidy through additional tax savings”.


How to secure a full state pension

Posted on 12.04.2021

As the coronavirus pandemic wreaks havoc on people’s finances and makes the future uncertain, planning for retirement has become more important than ever. The state pension is often the main source of income for individuals once they retire. In order to be eligible to receive these benefit payments, one must meet certain criteria. Let’s take a look at the most important pieces of information you’ll need to know when it comes to securing a state pension. The exact amount o ...

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Recouping missed pension contributions requires clients ask themselves difficult questions

Posted on 10.03.2021

A culmination of factors including furloughs and job losses are weighing on the financial condition of many pensioners, forcing them to rethink their retirement plans. Long before the COVID-19 pandemic hit, there were varying views on pension and retirement savings. Higher salaried individuals who could afford financial advice to plan for their future had a different outlook compared to minimum wage workers who could not afford to save much. Though the inability of low wage earners to adequatel ...

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New Pensions Act Will Better Protect Employees’ Funds against Misuse

Posted on 15.02.2021

British workers had a lot to be happy about last week thanks to the new Pension Schemes Act, which is set to better protect their life savings. It offers them protection against firms that use the pension funds for their own material benefits, disregarding the responsibility people entrust them with. The Act is already in force as of 11th Feb 2021. What is the new Act? The Pension Schemes Act gives regulators more power to act against firms that misuse pension funds and put other people’ ...

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Why You Shouldn’t Worry About Your Pension Fund Too Much – Even During a Recession

Posted on 05.02.2021

Pension funds are already beginning to recover their losses following March 2020, but many still hold concerns about what the future holds for their nest egg. Can you afford to save more, or should you start withdrawing now? Before you react, it’s important to keep some perspective. Keep in mind that pension funds are long-term investments and designed to ride economic waves. So, the longer your money is invested, the more time it has to recover. As an example, pension ...

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