So what is it called Rieseter Rente? Are you planning to settle completely in germany? Do u have atleast a NE here?

I do not have a NE here but Agent told me that, whenever I want to go back, they will give the all sum-up money back and after that I have to pay a higher tax rate, the all what I have saved.
He also added as, I will be going back, so may be I even do not need to declare it and so there will be no tax even....

Regards,
Zeeshan

Be careful. They will promise all they want but the reality is different. But the amount you get back will be a small percentage of what you pay. Better invest in you own country instead of here.

I think this scheme is only useful ( good returns)
when you stay in germany till your age is 65+ (retirement).
If you withdraw in the middle your returns will not be at the same rate as calculated w.r.t Retirement age.

Govt is encouraging banks and insurance companies to take such schemes to comapnies, so that salaried employees save some money now and get benefits after retirement (Govt is planning to reduce burden on them).

Hello all,

I've also been offered this type of "riester rente-versicherung from my bank (although I don't hace NE yet). I asked the lady what would happen if I move out of Germany, she said that I could continue to pay cotizations (although without the state primes) and then get the rent when 65.

In this sense (and if this is true) I think It's like paying for a private rent, although with the State also contributing on it (one gets mony for children and also tax cuts, and so on).

I haven't decided yet whether I should jump on it. Has naybody have already this type of "riester" rente versicherung? Is it worthy?

Ari

Hi,
I have for applied for citizenship & planing to stay permanantly in Germany. I am 35 years old and till now I didn't have any Rente Versicherung. I have heard/read about Riester-Rente but could not deceide anything. What type of Rente versicherung you have? What is your thought about Altersvorsorge?
What is interest of Bank in RV? They try to persuade evryone. For RV does selection bank play any role. RV is saved by bank or some else?

Regards.

dilbir

Just go through the following topic

http://toytowngermany.com/forum/index.php?showtopic=18733

Riester is offered by different insurance companies and banks. Interest is not that great when compared to india, but the tax breaks from the govt gives a little advantage.

Hi,
Raj, thanks for link. It is quite informative, but still not clear. Any way tough decision. Still does not know what will happen if one get jobless. Can monthaly premimum can vary(lower/heigher). Premimum is deducted diretly from payment or one has to transfer?.

Best regards.

Dilbir.

>>Still does not know what will happen if one get jobless.

You can continue paying if you are getting arbeitlos geld. If you dont have any income, then the payements can be frozen but you have to pay 60 Euros for the whole year to keep the policy alive and you can start paying more when you start earning.

>>Can monthaly premimum can vary(lower/heigher).

It is minimum 4% of your income and upto a max of 2100 Euros/Year

>>Premimum is deducted diretly from payment or one has to transfer?.

It is taken from your bank account automatically and not from your salary since it is private.

Hi folks,

I would like to make a question on this, since my bank has also been insisting in my getting a Riester V. What happens if I leave Germany for good? Will I ever get the benefit (rente?) back?

cheers,
Ari

>>I would like to make a question on this, since my bank has also been insisting in my getting a Riester V.

Of course they are counting on salesman and thats what they try to do.

>>What happens if I leave Germany for good?

If you move inside EU it is not problem, but outside EU no chance i guess.

>>Will I ever get the benefit (rente?) back?
What benefit? back?? dont understand what you mean


IMHO it is not advisable for people to invest anything in Germany if their longterm plans are not clear. Looks for investments only if you see yourself living in Germany or atleast EU in your old age.

If you can read german, here is a news article about why Riester is not good even for germans

http://www.wiwo.de/finanzen/die-riester-luege-403903/