At present, state pensions are generally insufficient to allow retired people to continue to enjoy their previous life style.
There are three different types of pension schemes available in Germany: state pension schemes, voluntary occupational pension schemes and personal pension schemes. Personal pension schemes offer a wide number of different options for saving for your retirement.
In order to create a solid financial foundation for your retirement, it is generally recommended to save between five to ten percent of your gross salary. However, it is also possible to save smaller amounts. The most important thing really is to just put money aside regularly and to start saving as early as possible.
Anybody retiring after 2040 will have to pay tax for their entire pension (i.e. 100 percent). Until then, the amount liable for tax will be gradually increased.
Investing in property is a popular way of investing for retirement, especially when interest rates are low. However, it is important to have at least a little of your own capital to invest and to take a close look at both the property and related terms and conditions before investing in any property. Regardless of which option you are considering, it is always best to seek professional advice.
We, your Sparkasse, use cookies that are essential to providing access to our website. If you consent to the use of cookies, we will use additional, non-essential cookies in order to process information on your use of our website for analytical (e.g. to measure reach) and marketing purposes (e.g. to personalise content). As part of this, Google may also provide us with additional data. We also use cookies to assign visitors to specific target groups and provide these target groups to Google for advertising campaigns. For more detailed information about these cookies, please see our Privacy Statement. Cookie consent is optional and not required in order to use this website. To select the kind of additional cookies you are happy for us to use, please click on “Change settings”. You can also consent to the use of all additional cookies by clicking on “Agree”. You can withdraw your consent at any time or change your cookie settings by clicking on the “Change cookie settings” link at the bottom of each page. If you click on “Decline”, we will not use any additional cookies.