I heard this week about the possibility of VWL with a saving bank-account offered by companies to each employee. Nobody informs me about it and I never heard about it.
I feel very stupid now!!

I work in the same company since years. I would like to know if it is possible to get back the amount of the VWL since my recruitment till now?
Is it too late?
Thanks.

Hallo,

Same thing happened with me as you can start getting it after six months of your joining, if you have opened a Bank Account. Now in my case, my company refused to pay for the past period. So, I donot know whether is it possible to get in any other way?

Hope its helps you.

hi,

May I know what is the (VWL) Vermögenswirksame Leistungen.....what does it mean?

VWL (vermögenswirksame Leistung) is "capital-forming" payment from the company where you are working. It's a monthly payment up to 40.- Euro from the employer. It's paid to a bank, not to you, for your long-term, future plans and you can't touch this money until 7 year passes.

Typically, lots German companies have that opportunity. The point is, it is not automatically paid. If you don't ask your employer, they won't pay.

The banks offer various opportunities, how you can handle this money. They have stock option, savings account etc. But don't forget; no matter how you evaluate this money, you can't touch it until 7 years passed.

The details above are just a summary. Actually VWL is a complicated topic and there are lots of details. You can find lots of information on internet.

Regards,
Klenze17

"The banks offer various opportunities, how you can handle this money. They have stock option, savings account etc. But don't forget; no matter how you evaluate this money, you can't touch it until 7 years passed."

it's very interesting what AA will do if you have something like that and will apply for Alg II. i guess they will say you can realise this contract for it's price and therefore will get less money from them, if at all

it's very interesting what AA will do if you have something like that and will apply for Alg II. i guess they will say you can realise this contract for it's price and therefore will get less money from them, if at all.

AA does not care what your company pays for you, especially, how.

If you are getting Alg II (Arbeitslosegeld II), unemployment salary, it means that you don't work in that company any more. Company won't pay you anything more, of course (instead, you get unemployment salary from the state). If you get laid off, you won't get paid VWL, like your salary. In this case, I don't know, either, what happens with the money paid as VWL up to that point. I think you can access that money. The bank might give you more detailed information. In the worst case, if you leave the country, you might get the money, worst case in 7th year after the first VWL payment.

Detlef and any other person who experienced VWL might give more detailed information about such a condition.

I vaguely remember that the Berater from Schwäbisch Hall told that you can break the contract after 3.5 years.