Security plus return: unit-linked pension insurance companies want to keep this promise.
According to a test by “Stiftung Warentest”, the costs are sometimes high.
More about the test.
Save for old age *
- and that with little effort: If you want, you can take out
fund policies with ETFs
.
This can definitely be an alternative for comfortable customers, as reported by the “Finanztest” magazine (12/2020) from
Stiftung Warentest
.
But customers often pay a lot of money for these contracts, according to a report by the German Press Agency, which describes the aforementioned test, in which the experts examined 33 tariffs for unit-linked pension insurance for a 37-year-old model customer.
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Pension insurance with funds are according to Stiftung Warentest "convenient, but often too expensive"
The financial experts checked which
funds the insurers
offer, how much pension they pay at least for every 10,000 euros of saved assets, how high the
costs
are and how transparent and flexible the contract is.
"The main problem is usually too high
insurance costs
and the associated
reduction in returns,
" says a message on Finanztest.de.
“With a term of 30 years, these costs can add up to tens of thousands of euros.
They reduce the wealth saved.
Only three of the 33 policies in the test therefore received the quality rating good
. "
An example:
In one case, as described in the report, the costs were 1.7 percent per year.
With the cheapest provider, however, only 0.4 percent per year were due.
With a term of 30 years, that could make a big difference.
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Stiftung Warentest: Tips for long-term investments
The security of these fund policies is not comparable to an ordinary private pension insurance, explain the experts from
Stiftung Warentest
.
There is no guarantee for the contributions paid in, but the
return opportunities are
higher.
For savers who want to take the investment risk, Finanztest recommends
“
Equity ETFs
, also known as
index funds
”
for
long-term investments
.
Almost all tariffs offer, according to their statements, "also share ETFs for saving".
The announcement on Finanztest.de goes on to say: “If you want to save with funds for later, you don't have to rely on fund policies from insurance companies.
Fund savings plans at (online) banks are more flexible and cheaper. "
Sources: Test of the Stiftung Warentest, dpa
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