Retirement Provision

Private pension provision must become more attractive. Because state pension funding will in future only be able to provide a basic level.


BVI has always been committed to strengthening private retirement provision. In the current discussion on private pension planning we, along with insurers and building societies (the German Bausparkassen, authorised to conduct home savings business), have presented a five-point plan to reinforce the Riester pension schemes, which offer special subsidies and tax incentives. We advocate a new, lean Riester pension system with significantly less complexity and bureaucracy. To be specific, we have submitted the following proposals for consideration by policymakers:

  • the design of simple standard products without complicated choice options;

  • an attractive and easily comprehensible subsidy system: every euro paid in is topped up by a subsidy of 50 cents

  • making state-sponsored private retirement plans available to everyone – including the self-employed;

  • a more flexible premium guarantee to boost return opportunities for savers;

  • a simplification of the procedure for granting bonuses to reduce the clawing back of bonuses to a minimum.

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Retirement Provision


Private retirement planning: BVI...

The extremely low interest rates and a stagnating uptake are making a reform of state-sponsored private retirement plans a matter of urgent necessity. Today, in Berlin, the associations of insurers, investment companies and building societies (the German Bausparkassen),...

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BVI-Position Standard-Riester-Produkt




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