Tuesday, 26 January 2010

The current status of Residential Riester

On 8/4/2008, the Federal Cabinet decided on the draft Residential Riester. Overall, the bill of the "retirement home looks" as she is officially called, thought a little more friendly for everyone interested in home ownership than previously estimated.
Basically, even now envisaged that this can be completely removed in the Riester contract capital saved and may be used for the construction or purchase of a property. In addition, the Riester allowances are also able to pay off an existing real estate loan. This can make for a family has a great deal: If we (four per cent savings rate of income) 154 euros and the basic allowance for such 2 children per child 185 euros child allowance, results in an annual amount of 863 euros. This may be in the financing of a property is an important building block.

When accumulated capital, it does not matter whether it is a Riester pension insurance is Riester or a bank or savings plan funds. With each of these forms of savings Riester may therefore in future savings to finance a property. The charges can be made at the end of the year claimed as special expenses.

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