In the private pension insurance a guaranteed pension period can contractually be agreed. In this case the insurer pays for the previously agreed period of 5 or 10 years for example, even if the insuree deceases before the term expires. The bereaved then receive the due pension payments. (Example: Agreed pension guarantee period of 10 years, insuree deceases after 3 years: The insurance pays the pension for 7 years to the bereaved.)

Which specifications would you like to make for your pension comparison?

• The monthly savings amount corresponds to the amount, that you want/can invest in your provision on a monthly basis.
• With the guaranteed monthly pension you determine the amount that you will surely need for your provision in old age.
• With the guaranteed payout you can determine an amount, that may be paid out to you in a one-off payment at the end of the insurance, if you opt against the monthly pension payment. The one-off payment is not possible for all tariffs. With the surplus payout you determine the amount, that you are likely to be paid as one-off payment at the end of the insurance, if the expected surplus incurrs. The surpluses are not guaranteed. If you opt for the one-off payment you can no longer receive a monthly pension The one-off payment is not eligible for all tariffs.

The classical pensions insurance offers a minimum interest which is guaranteed by law. As investment there are regulations that dictate the invesment above all in investments which are relatively secure and low in fluctuation The invesment in risky funds may be up to 30% max. if complied with German law.

The funds-related pension insurance offers the chance to higher yields and therefore a higher pension at the end of the insurance. These pensions are not guaranteed. A total loss of the investment is unlikely but possible. Most of the offers give you a selection of funds in which money is invested. Here you can also select guarantee funds which offer more security, but simultaneously increase the costs.

The basic pension is also known as Rürup pension. It is available as connected to funds as well as classic pension insurance. The basic pension is subsidized by the government, if it is used solely as retirement arrangement. Subsequently there are advantages and disadvantages:

Advantages:

• The saver may build up his pension plan with the support of the government (tax benefits for extraordinary expenses deduction).
• The capital that is tied into a Rürup policy, is not considered in the abatement of wealth in case of long-term unemployment (ALG II).
• Protection from garnishment. Rürup policies cannot be claimed in the savings period. In the pension period, however, the amount in excess of the garnishment limits may be claimed.
• During the savings period no flat rate withholding tax must be kept, so you can "work" with this money.
• An included occupational disability may be written off against tax, if the contribution towards the amount does not exceed 50%

disadvantages

• Contributions to Rürup Pensions may currently only be staggeredly claimed as tax exempt (see below).
• No lump-sum option - the later payout is done at the earliest at the age of 60, exclusively as life annuity.
• Pension payments are taxable, dependent on the year of the beginning of the pension.
• Rürup-Policies cannot be lend against, be transferred or given away. The cancellation and the payout of the "surrender value" is excluded, however, a contribution excemption is possible.
• In case of the saver's death before the beginning of the pension the entire capital paid in expires. However, depending on the offerer it may be possible to agree a supplementary insurance in the form of a bereaved insurance, or a contribution payback guarantee, which comes without tax benefits.
• Also in case of the saver's death after the beginning of the pension the paid in capital expires. A pension guarantee period is not given by all providors of the Rürup-Pension. If the saver is married, a bereaved's pension for their spouse may be agreed.
• For additional contributions (in order to take advantage of the assisted annual ceiling amount) fees are charged if incurred.

The basic pension is also known as Rürup pension. It is available as connected to funds as well as classic pension insurance. The basic pension is subsidized by the government, if it is used solely as retirement arrangement. Subsequently there are advantages and disadvantages:

Advantages:

• The saver may build up his pension plan with the support of the government (tax benefits for extraordinary expenses deduction).
• The capital that is tied into a Rürup policy, is not considered in the abatement of wealth in case of long-term unemployment (ALG II).
• Protection from garnishment. Rürup policies cannot be claimed in the savings period. In the pension period, however, the amount in excess of the garnishment limits may be claimed.
• During the savings period no flat rate withholding tax must be kept, so you can "work" with this money.
• An included occupational disability may be written off against tax, if the contribution towards the amount does not exceed 50%

disadvantages

• Contributions to Rürup Pensions may currently only be staggeredly claimed as tax exempt (see below).
• No lump-sum option - the later payout is done at the earliest at the age of 60, exclusively as life annuity.
• Pension payments are taxable, dependent on the year of the beginning of the pension.
• Rürup-Policies cannot be lend against, be transferred or given away. The cancellation and the payout of the "surrender value" is excluded, however, a contribution excemption is possible.
• In case of the saver's death before the beginning of the pension the entire capital paid in expires. However, depending on the offerer it may be possible to agree a supplementary insurance in the form of a bereaved insurance, or a contribution payback guarantee, which comes without tax benefits.
• Also in case of the saver's death after the beginning of the pension the paid in capital expires. A pension guarantee period is not given by all providors of the Rürup-Pension. If the saver is married, a bereaved's pension for their spouse may be agreed.
• For additional contributions (in order to take advantage of the assisted annual ceiling amount) fees are charged if incurred.