Hi all,

My company transfers vermögen money every month to a savings account.Its been 5 years since they started putting it.Can I take this money out,if I need at any time.

If I take this money ,does it affect any other thing or do I have to be carefulr about something.

Thanks
P

No. You can touch this money only after 7 yrs.

Is there no way to take this money before 7 years.

One idea could be to rob the bank !!!! Don't get angry now..... It's Friday.. :-))

Great Idea .Then why rob the bank just for vermögen gelt

What you say is Vermögenswirksame Leistung (VWL). I advise you to write German words/phrases correctly, because in German there are lots of words written alike but mean quite different.

You/someone can get this money before 7 years, only if [1]:

- you have died or you are unable to work (retired or medical problems etc)
- you got married and 2 years passed since the first payment,
- you are not working in Germany for the last 1 year (laid off or left the company with your own decision),
- your company hasn't paid the montly payment for the last 1 year.

There are other extremous conditions like you have to pay taxes but you have no money any more etc.

Klenze17.

[1] VermBG ( Fünftes Gesetz zur Förderung der Vermögensbildung der Arbeitnehmer, Law for Capital Forming,
http://bundesrecht.juris.de/vermbg_2/ ).

Thanks Klenze.That was what I was looking for