News Classical pension insurance Comparison: Where is the most money?
Wednesday, 26.04.17 , written by Christian Hafler A recent comparison of various classic annuity policies shows how much this pension has changed over time. Some insurers are doing much better than others with the low interest rates. If paid in 2017, the differences between the providers will be in the range of several thousand euros. > Private pension insurance: There was significantly more money here in 2017
A recent comparison of the branch service Map-Report has reviewed the success of classic pension insurance in recent decades . Among other things, the one-time disbursements of insurance policies with a term of 20 years and a pension beginning between 2005 and 2017 were scrutinized. The figures clearly show that a non-smoking, 43-year-old insured, who paid 1,200 euros annually to the insurance company, could enjoy a much higher return and thus a lump-sum payment if the pension started in 2005 and not in 2017. Depending on the period, the average return is 3.8 to 5.9 percent .
Private pension insurance: Situation on the financial markets influences returns
The average performance of the pension schemes tested fell between 2005 and 2017 from 46,256 euros to 36,390 euros . For precautionary interested parties, this means that traditional offers always yield less and less. This is also due to the guaranteed interest rate, which peaked at 4.00 per cent in the mid-1990s and since then has been reduced to 0.9 per cent.
In addition, insurers can achieve lower surpluses over the guaranteed interest rate compared to previous years. All this contributes to the fact that the classic pension insurance hardly pays off against unit-linked options and other pension plans .
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Benefit of pension insurance: differences of 6,000 euros and more
The map report has not only compared the amount of payouts for the different periods. The analysis also examined the level of lump-sum compensation within a single year and the insurer’s dependence on it. For a term until 2017 , benefits vary accordingly between 33,764 euros and 39,866 euros . Not all companies have participated in the market investigation. Nevertheless, it can be seen that, at the end of the term, it can make a significant difference to the amount of the lump-sum payment or the pension, which provider insureds choose for their retirement.
Top 3 of the pension insurance with retirement in 2017
- Public Brunswick
- R + V
Alternatives to the classic pension insurance
The classic pension insurance offers a very high level of security, but is now unsatisfactory in terms of returns for many savers . In addition, more and more insurers are foregoing classic provision products due to the low return prospects. However, there are other ways to provide for the retirement. These include on the one hand unit-linked annuity and life insurance . For these, a higher proportion of contributions is invested in high-yielding assets such as equity funds. This increases the chances of returns, but also involves risks.
On the other hand, both classic and unit-linked provision products are available with government support. Depending on the personal life and work situation, Rürup pensions are suitable. However, a generally recommended product does not exist. Therefore, it is important for pensioners to find out in advance exactly about the different variants .
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