I took this from the topic Cheapest loan.
So this will be Riester topic and the other topic will be only for cheap loans.


Eigenheimzulage should be changed with Wohn-Riester. It all should start with 1.1.2007 but nothing happenned.
Anybody knows when will it start?
Anybody knows what will it look like?
I think this Riesterrente thing is completely stupid. You pay all life and if you die before 65 NOBODY gets anything. If you die litle bit later, than you received Rente few years and your family COULD get money but without any subventions from state, I think even without Zinsen and above all that they have to pay STEUER on it.
As if you kept money all the time in your pocket so you DO NOT GET ANY ZINSEN OR SUBVENTION, and even worse, cos YOU HAVE TO PAY STEUER ON THAT AMOUNT. AFAIK.
So I hope Wohn-Riester will be better than that.

Anybody knows when does this Wohn-Riester comes and what will it be like?

When CDU and SDP established the koalition Vertrag they agreed to get rid of Eigenheimzulage in 2006 but only to introduce it as a Wohn-Riester in 2007. But it was not introduced???

I can not believe nobody knows nothig about it!!!

this reminds me on the old ZuwG. Back then nobody knew if it comes and what it means for us.
Same is here.

So gals and guys:
this Wohn-Riester should be something like Eigenheimzulage only smaller amounts.
meaning: You buy house or flat and you get some money from BRD or you can get tax benefits.
In both case you get more money for your self.

back them I found Yahoo page with all news concerning ZuwG as it was going trough Parlament.

It would be perfect to find some similar thing where we can folow this Wohn-Riester-Gesetz as it goes trough Parlament.

So lets try to search a litle bit to find some page with news what happens to this Wohn-Riester-Gesetz or when it comes or when will they talk again about it. Ask people arround you, ask your tax consultant, search in newspaper and on web cos IT IS IMPORTANT.

DvD screams:
I can not believe nobody knows nothig about it!!!

DvD, my friend, don't take the silence personally. Sometimes you are also slow to answer the questions we asked you. You can do a search in the forums if you don't believe.

I think this Riesterrente thing is completely stupid. You pay all life and if you die before 65 NOBODY gets anything.

This is not true. I am registered to Riesterrente. If you die for some reason, the state and the bank must give the money you paid, to a person whose name you have given the bank. Your money will never be lost.

If you die litle bit later, than you received Rente few years and your family COULD get money but without any subventions from state, I think even without Zinsen and above all that they have to pay STEUER on it.

Read the options of Riesterrente the bank offered very carefully. The money you pay can be put on a fonds. Then it is normal to be taxed.

The Wohn-riester stuff is far away from me

Klenze17.

Thanks Klenze.

I think you took some special Riesterrente option to have your family gets all the money.

But even in that case I think that they can not have staatliche Zuschüsse meaning your family will get money that you put on Riesterrente accout but not the money that state put on that acount and that money from state made this RR thing so interesting. Correct me if I am wrong.

I think you took some special Riesterrente option to have your family gets all the money.

I am single, I have no family.

There is only one Riesterrente. The contracts only differ in State contributions and your contributions depending on your marital status.

But even in that case I think that they can not have staatliche Zuschüsse meaning your family will get money that you put on Riesterrente accout but not the money that state put on that acount and that money from state made this RR thing so interesting. Correct me if I am wrong.

Correct. You can not get back state contributions. This is defined by law. You can only get your money back, for some reason like death.

But if you keep on paying till 65, you will get state contribution.

Riester Rente is actually a kind privatisation of pension fund, nothing more. Because of the recession in Germany, the state is trying to get rid of state contributions. Riester Rente is actually a reduced contribution, nothing more.

Klenze17.

Klenze:
"You can not get back state contributions. This is defined by law. You can only get your money back, for some reason like death.
But if you keep on paying till 65, you will get state contribution."

if you get 65 you will receive staatliche Zuschüsse for some time if you are lucky but your family will never inherit it.

that is wha Wohn-Riester would be much much better. Staatliche Zuschüsse für Wohn-Riester go into haus/wohnung and you own it and your family inherits it.

the thing is if this WohnR or WR does not come soon it will be a big BETRUG cos Eigenheimzulage is gestrichen only to be exchanged with WR.

And Eigenheimzulage was introduced only because tax benefits were gestrichen.

Now we have shi..y situation that there is no EHZ and no WR and even no tax benefits. Since WWII there was always 1 of those 3 things. And now nothing.

DvD writes:
if you get 65 you will receive staatliche Zuschüsse for some time if you are lucky but your family will never inherit it.

Yes this is crystal clear, but as long as you live why do you think that your spouse shall inherit contribution? Is there any country you are aware of where the other spouse take inherit the contribution as long as the man is living? It is a question.

that is wha Wohn-Riester would be much much better. Staatliche Zuschüsse für Wohn-Riester go into haus/wohnung and you own it and your family inherits it.

I have no family and also not a plan to buy a house in the shortterm, I cannot comment on it.

Now we have shi..y situation that there is no EHZ and no WR and even no tax benefits. Since WWII there was always 1 of those 3 things. And now nothing.

Not every plan shall be effective. Wohn-Riester of SPD is just a thought which I tried to describe below.

I am looking at the picture in a higher abstracted level. Germany has been rich at giving social contributions but now they are paying the price for that. The state does not have money any more. They want to remove budget deficit.

Therefore it is reasonable that they are developing plans to combine previous contributions for 1. to reduce state contributions 2. to make the people happy who were used to get contributions.

In the long term Germany will not be helpful in the social contributions. The worst case would be the status of our home countries where we do not get contributions Germany is giving.

Klenze17.

klenze:
"Yes this is crystal clear, but as long as you live why do you think that your spouse shall inherit contribution? Is there any country you are aware of where the other spouse take inherit the contribution as long as the man is living? It is a question."


I can name you one land: Germany until 2005.
Everybody buying house could get 20k€ help and 6k€ for every kid.

After WWII and next 50 years you could extract darlehen from your income and have tax benefits.

so my opinion is:
IF THERE IS NO CONTRIBUTIONS THEY HAVE TO ALOW TO EXTRACT DARLEHEN FROM INCOME AND THAT WAY TO REDUCE THE TAX

let us do the Vergleich:

if family with 2 kids would buy 100k€ house or flat they could get:

bis ~1980 ~33k trough tax return
bis 2005 ~40k trough Eigenheimzulage & Kinderzulage
bis 2007 ~20k trough Eigenheimzulage & Kinderzulage

jetzt 0€

from 2008 maybe ~12k trough Wohn-Riester & Kinderzulage if the law is accepted

so all those who are buying house or flat, let's find out what's up with Wohn-Riester (Bau-Riester)

a few things to add:

if you buy house or flat to rent it you can get tax return for it.

depending on Steuerklasse I could say that for 100k€ flat you can get 33k€ back.

but as I said: you can get tax return back only if you rent it, not if you live there!!!