Created in 2001, the "Riester pensions" (name of a former minister of social affairs) introduced a complement by capitalisation into the German system of retirement. Even if subsidies are granted to subscriber, the "Riester products" (life insurance, retirement saving, pension funds) has not been not very popular for a long time…. until last year. (Ref. 06802)
The attempt of the Schröder government to introduce an element of capitalisation into the financing of the retirements has been considered as a failure for a long time. The Riester pension, who allows people subjected to social contribution to subscribe to a private retirement placement (max. 4% of the gross annual salary) while receiving tax advantages and subsidies, took some time before attracting German people. From the last quarter 2002 to the first quarter 2005, the number of “Riester con
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