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Savings options with asset-building benefits

2020-08-12T03:10:04.329Z


It's money that employees shouldn't miss out on: asset-building benefits. Employees can invest the amount in different ways - an overview of the possibilities.


It's money that employees shouldn't miss out on: asset-building benefits. Employees can invest the amount in different ways - an overview of the possibilities.

Hamburg (dpa / tmn) - Many employers help their employees save. Because in addition to wages or salaries, the boss often receives extra money month after month: asset-forming benefits (VL). "Depending on the industry and region, it is up to 40 euros a month per employee," says Helena Klinger from the Institute for Financial Services (iff) in Hamburg.

Employers pay capital-forming benefits on a voluntary basis. Often, however, they are also obliged to do so by a collective agreement, an employment contract or a works agreement. The employer does not transfer the respective amount with the wage or salary, but directly into a savings system determined by the employee.

The employer pays in regularly for six years, the money is dormant in the seventh year. After the deadline, employees can cancel the savings investment or partially pay it in themselves.

How to proceed If you have not yet received a VL service, you should ask your company whether there is something extra. If this is the case, it is necessary to conclude a savings contract of your choice. If the employer has the confirmation, you can start. There are these possibilities:

- Bauspar contract: If you want to build a house, buy an apartment or renovate your property, a building society contract is ideal. The disadvantage: there is relatively little interest on the deposits. However, the saver secures a favorable fixed interest rate for a later loan.

A loan waiver is also possible with home loan savings contracts. In that case the credit will be paid out. "Sometimes some providers top up the low credit interest with a bonus or bonus interest when a loan waiver," reports Klinger.

If you don't want to use the income from a building society loan agreement to finance a property, you can pass on the right to the fixed-interest loan to a relative. "The transfer is at the discretion of the building society, but it usually agrees," says Juliane Weiß from the Association of German Banks in Berlin.

- Bank savings plan: Those who want to rely on security are right with a bank savings plan for their VL services. The VL services flow into the VL account for six years, then the contract is suspended for one year. "There is a base rate and, as a rule, a premium at the end of the term," explains Klinger.

The advantage: A minus like with equity funds is not possible. The disadvantage: the interest rates are manageable. Should the financial institution have to file for bankruptcy, the balances are protected by the statutory deposit insurance up to 100,000 euros.

- Securities savings: "Anyone who opts for a securities savings plan can benefit from high returns," explains Weiß. As with the bank savings plan, the VL amount flows into the contract for six years and then rests for one year. "A savings plan on global stocks is an opportunity to achieve an average of ten percent return - this is how things have developed over the past few years," said Weiß.

But of course there is no guarantee for the future, according to the spokeswoman for the banking association. "It must be clear to employees with this VL savings option that there is a constant ups and downs on the stock market," emphasizes Klinger. If share prices are low after the seven years have elapsed, it can pay off to wait for the share price to recover.

- Repayment option: Employees can also use VL benefits to repay existing home loan and savings and bank loans. With this variant, the borrower receives the VL amounts transferred to his own account.

The bank confirms in writing that the employee will use the VL benefits to pay off debts. The employee submits this letter to his employer. "But it is also possible to have the VL services transferred directly to the loan account," explains Weiß.

This is often not a problem with building society loans, as borrowers usually have a special repayment option. With ongoing mortgage loans, consumers should speak to their bank.

© dpa-infocom, dpa: 200811-99-127365 / 5

Source: merkur

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