Private pension provision affects us all
While 20 years ago bottle collecting pensioners were a rare sight on Germany’s streets, today they are already part of the everyday street scene. The results of a survey of the Deutsche Bank clearly show that already every second German citizenhas anxiety about this, no longer be able to maintain the accustomed standard of living in old age or even slide into poverty in old age. Furthermore, 78% of the respondents also stated in this study that they did not expect to have sufficient financial resources available in old age . Consequently, the confidence in the statutory pension is currently lower than ever before.
It has been known from the media and politics for many years that the statutory pension is no longer a guarantor for a carefree retirement, which makes a private pension plan absolutely necessary. At the latest when the annual pension statement is inspected, it is obvious to the individual that, if the retirement policy development, private provision measures must be taken. For even if poverty in old age will certainly not affect everyone in the economic sense, no one across all sections of societywould want to accept a reduction in quality of life and standard of living in old age.
Fixed: Living in dignity and without charitable support is not a matter of course more and needs today more than ever a planned approach and corresponding economic as well as legal KNOW HOW.
Independent advice and long-term pension strategy for your retirement provision
But how should one insure oneself privately and provide for the age? Which investment strategy is the right one and which insurances keep what they promise?
It can be ascertained, that on the part of politicians, the responsibility of old-age provision and wealth planning has largely been transferred to the citizen and concrete financial policy founded recommendations for action or strategies are not to be expected. Accordingly, a great deal of uncertainty is felt across all middle-class classes, which is further fuelled by a confusing number of financial and insurance products.
There can therefore be no uniform answer or strategy to these questions. Individual requirements and life situations should definitely be included in a sustainable provision concept. And to ensure that you are really in the best possible position, a precise analysis of your current financial situation should be carried out beforehand and all expected developments in your financial circumstances . Furthermore, it is urgently advisable to review the various provision models, in particular government-subsidised pension products, also with regard to their tax advantages and disadvantages. An increased tax burden in old age and possibly additional contributions for the statutory health insurance schemes very often significantly reduce the freely available pension share. A insurance and tax mathematical check is therefore highly recommended even before completion.
As a consequence, a independent consultation without the pressure of a financial statement and provision is highly recommended at this point, so that your interests are protected in old age. Speak to us with pleasure!
Investment opportunities for retirement provision and asset planning:
- Owner-occupied properties
- Letting of real estate
- Savings plans
- Riester pension
- Rürup pension
- Life Insurance
- Cooperative shares
- Insurance Jacket
- Tax saving models
- Closed investments
- Time value accounts
- Support Fund
- Pension funds
- Pension Fund
- Precious metals
- Savings plans
- Participation rights
How we support you in your retirement and asset planning:
- Advice on insurance law
- Independent advice on various pension models
- Assessment of existing insurance contracts
- Explanation of funding and investment models
- Independent pension advice on a fee basis
- Tax advice and analysis of existing investments from a tax perspective
Helpful further articles on the subject of wealth planning:
- Pre-programmed old-age poverty despite additional private provision by those with compulsory insurance
- Legal advice for your private pension provision
- Retirement provision benefits companies and employees – savings pot for medium-sized companies
- Old-age poverty: European countries expropriate pension savers
Our office in Munich
You will find our office at Fasolt-Strasse 7 in Munich, very close to Schloss Nymphenburg. Our team consists of highly motivated attorneys who are available for all the needs of our clients. In special cases, our law firm cooperates with selected experts to represent your interests in the best possible way.
About the author
Dr. Johannes Fiala has been working for more than 25 years as a lawyer and attorney with his own law firm in Munich. He is intensively involved in real estate, financial law, tax and insurance law. The numerous stages of his professional career enable him to provide his clients with comprehensive advice and to act as a lawyer in the event of disputes.
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