Riester contracts are seen by many as complicated and expensive, there is a cheap and customer-friendly product: the Riester savings plan. Customers pay in their contributions and the state benefits to a special savings account until retirement. Although this is not accrue interest and, other than insurance and Fund policies – no commissions for brokers or high fees, but the due. Consumer advocates had recommended, therefore, repeated this Form of Riesterns.

Falk Heunemann

business editor of the Rhein-Main-Zeitung and the business magazine Metropolitan.

F. A. Z.

Because it can be well worth it, especially because of the state allowances (175 euros per Person and up to 300 euros per child) and the tax credit. A well-paid Single or a mother of two children with little income can come quickly in yields of 40 to 60 percent, if you use only the state support completely.

The distribution

set A key disadvantage of the “Riester” savings plan, but He’s not worth it for the banks. Therefore, only a few such saving had plans at all to offer. The last provider in the Region, the Mainzer Volksbank. Now, however, it has also set the distribution. The demand had decreased, in addition it was expected that less and less co-operative Bank, said a spokesman for on demand. Existing customers is not terminated, the product but.

clients from the Region looking for a Riester savings plan, can only appear in a single Bank in Germany: Sparkasse-Holstein. It distributes the product nationwide via their website.