The red-green-yellow government is preparing a far-reaching restructuring of the so-called Riester pension. The goal is new pension options and simpler regulations for state-subsidized private pensions. In addition to higher subsidies, the main aim is to allow pension products with a certain investment risk and correspondingly higher return opportunities. In addition to insurance products without a full guarantee of the contributions paid, this also includes the variant of a newly designed retirement savings account, in which fund products such as ETFs can also be saved with the help of state subsidies – provided that payments before retirement age are not made.
This is the result of the now completed final report of a “focus group” on the reform project, in which the finance, labor and economics ministries were also represented. The report is to become the basis for legislation planned for the coming year. “I hope that we will carry out and complete the legislative process in 2024,” said the parliamentary Secretary of State for Finance, Florian Toncar (FDP). Independently, the traffic light government is already preparing legislation for so-called generational capital; The aim here is to supplement the statutory pension with an element of capital cover.