Riester pension (Riester-Rente) exists since 2002 and is named after the Minister of Labor Walter Riester. This is a voluntary additional pension insurance, which is supported by the state with bonuses. It is believed that Riester pension is beneficial for families with children, low-income earners and high-earning singles. However, due to the high cost of maintenance and low interest rates, this type of savings is not so popular, as the government would like.
German pension
What’s new in Germany 2023. Social, insurances, medicine
The social sphere will be in the most turbulent state in 2023, because the old social benefits Harz 4 system is being destroyed, but what will appear to replace it will still have to be seen.