Finally more perspective: A new free online portal promises to provide a better overview of the status of your own pension provision from summer 2023.
But is it worth it?
It will be interesting this summer: Then there should be a voluntary free online portal that all German citizens can access.
With the aim of being able to easily and individually query the own status of the old-age provision situation.
Thanks to the digital pension overview, more clarity and a better overview should be created.
The acquired pension entitlements from statutory, company and private pensions can be called up digitally via the portal.
Pension at a glance: Free online portal will start in summer 2023
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The digital pension overview is intended to make it easier to get an overview of the status of your own pension provision.
© VITTA GALLERY/Imago
The online offer was developed by the Central Office for the Digital Pension Overview (ZfDR) under the umbrella of the German Pension Insurance.
In addition to the statutory pension insurance, the Federal Ministry of Finance, the Federal Ministry of Labor and representatives of private and company pension schemes and consumer protection are involved in the implementation.
The online portal is a good first step, explains
Finanztest
, after all, old-age provision experts have been calling for such a digital offer for citizens for more than 20 years.
But there is already a catch: "An impending pension gap cannot be identified with it," it continues.
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The digital pension overview should contain the following entitlements, which will be successively fed into the portal:
Pensions from compulsory systems such as the statutory pension insurance
Company pension schemes in the private sector (direct commitment, provident fund, pension schemes and pension funds)
Supplementary public service
Subsidized private old-age provision (Riester pensions, Rürup pensions)
Private life insurance policies that start close to retirement
Retirement provision contracts in the form of fund savings plans that start close to retirement
Will I have enough money in old age?
Online portal has limits
The digital pension overview shows the current values from the pension and status notifications from the insurers and providers at the time of retrieval.
This means that the information is already available to insured persons and customers, but is bundled digitally for a better overview.
However, according to the financial test
, one shortcoming
is that data retrieved from previous visits to the online platform is not saved.
This means that users cannot retrospectively use the online portal to see how old-age provision has developed in the meantime.
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The portal cannot show a possible pension gap either, as it varies from person to person how much money they have available and need in old age.
After all, the need is linked to many individual factors such as housing situation or lifestyle.
The same applies to taxes or social security contributions.
Last but not least, other assets such as real estate, shares, fund assets or balances on accounts are not shown.
So if you want more comprehensive advice and information, you should contact the German pension insurance directly and seek a conversation.
List of rubrics: © VITTA GALLERY/Imago
