Millions of savers have a Riester contract and are dissatisfied. Now the subsidized deposit for retirement provision is to come. There are five options for existing policies.
Nobody has yet asked customers how satisfied they are with the Riester contract they signed a few years ago. Unfortunately. Because the answer would clearly underline how urgently the reform of subsidized retirement savings really is needed. But one number says it all: almost a quarter of Riester contracts are currently no longer being used. They are lying idle. Because customers cannot cancel them without making large losses. But because many savers also do not want to continue paying into the policies, given the tiny returns they yield.
Source: Stern
