What started off as a German-centric idea as the so-called ‘Vorsorge-Prinzip’ (financial forward-planning) after the second world war, with a three-pillar concept (private pension, public pension, employer-substituted pension) has continued to be the model for today’s pension planning system.
Secure Your Future
Pension insurance
Planning ahead for the age when you reach your retirement stage of life, has long become a global concept and many countries have followed suit.
Though many academics call the government pension a ‘pay-as-you-go’ pension system much like in the UK, it is a bit more complex than your standard top-up: in simple terms what ‘pay-as-you-go’ tries to describe is that when you reach retirement at 66-67, there is a one-to-one translation of what you paid-in, in terms of what you get out at the end, without much state-funded interest accrued. In a financial crisis, having only a government pension plan could be detrimental to your security framework in old age.
This is why it can be necessary to supplement one’s income with a private plan to close the gap, especially when employed in the private sector, as opposed to receiving the benefits of a civil servant. This is where we come in and can support you in finding the right pension insurance to supplement your state pension. More importantly we can advise you in how to start your plan early, so that you get the maximum amount of coverage possible.
We are also qualified to give you advice on how supplement your existing pension from home, when abroad in Germany as an expat and vice-the-versa.
The benefits of a supplementary private pension plan as opposed to an ETF- Savings-plan (subject to provider conditions)
Rather than having to select at random, ETF-based pension-schemes provided by a select insurance provider offer an array of pre-sourced ETFs or a product-pallet to choose from. You can mix and match ETFs according to their success on the stock-market.
Annuity
Even in the case that your personal funds have hit rock-bottom, you are guaranteed a pension, because you have invested in your future early on.
Flexibility
Insurance providers are qualified to help you with this and keep admin costs at a minimum. In short, you won’t need an expensive portfolio manager.
Take control
Some providers offer an App, with which you can digitally administer and oversee your own investment and have the benefit of personal consultant alongside.
Tax advantage
We are equipped to advise you on tax loopholes or how to save on tax, according to your pension plan