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Pension hammer: Riester reform now apparently put on hold - "system no longer in balance"


More than 16 million people “riests”. GroKo actually wanted to improve this model of pension provision - but not in 2021, according to a media report.

More than 16 million people “riests”.

GroKo actually wanted to improve this model of pension provision - but not in 2021, according to a media report.

  • Topic

    Riester pension

    : Union and

    The SPD * had

    agreed to


    the model

    in the coalition


  • Now,

    according to a media report,

    the Ministry of Finance * under Chancellor candidate

    Olaf Scholz has

    stopped the project for the time being.

  • After the news, strong criticism came from the business world.

Berlin - The GroKo should

not want to promote

the reform of the

Riester pension

until further notice.

This is reported by the


, referring to a Ministry of Finance paper that it claims to have available.


legislation in 2021

, the point missing thus.

According to the report, there are already sharp reactions.

Jörg Asmussen,

for example, called for


“Riester revolution”


General Association of the German Insurance Industry (GDV)


His criticisms:

Pensions: The points of a "Riester revolution"

  • The contracts are

    "difficult to see through"

    for private investors


  • "Our pension system is no longer in


    !", Quoted



  • The balance between the


    pay-as-you-go system and


    funding is missing.

Pensions: when will the Riester reform come?

Vendors urge Scholz & Co. to act

His proposed solution?

“A simpler, subsidized old-age provision with

more flexible guarantees

that combines security with opportunities on the capital market.

Then Riester has great potential, especially for

families, ”

says Asmussen.

Hans Joachim Reinke

, head of the Union Investment fund company,

is said to have written


“fire letter”

to Finance Minister

Olaf Scholz (SPD)


For more and more savers, the Riester pension would have two major shortcomings:

  • the

    low interest rate


  • the


    100 percent guarantee

    on savings contributions

The latter guarantee should be reduced to

70 percent

, says

Reinke in the


, who also wants to know that one in five of the more than 16 million Riester contracts is

“no longer saved”



2020 pension report

stated that around

66 percent

of employees were entitled to a supplementary pension from the company pension scheme or from a Riester pension.

It is also pointed out that

low-wage earners

in particular still do

not provide enough additional provisions for old age.

This mainly applies to



The social association


commented on the report as follows: It shows "that people who live on the edge of the subsistence level cannot make private provisions for old age".

(frs) * is part of the Ippen-Digital editorial network.

Source: merkur

All news articles on 2021-01-28

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