Don't Count on Allianz for Top Pension Insurances: Stiftung Warentest Shows Few Are "Good"
Approximately three pension plans can be considered "worthy" or "satisfactory".
Got retirement on your mind? savings is smart, but where to stash it? Private pension insurances might seem like the go-to, but they don't always pay off. You've gotta live long to reap the guaranteed benefits, and high costs can eat into your savings.
Classic private pension insurances with guaranteed interest on your savings contribution have been popular. They promise stable returns and lifelong pensions, making them hassle-free once you've signed up. The insurer takes care of your money. But beware, from 2025 onwards, insurers can only guarantee a maximum annual interest rate of 1%. What's more, they deduct their costs from your contributions, lowering the return further.
Stiftung Warentest examined 14 tariffs of classic private pension insurances, ensuring at least 90% of your paid contributions are present upon retirement. They tested insurers ranging from Allianz to Europa to Württembergische.
Most Plans Ain't "Excellent": It's All About Costs
Stiftung Warentest evaluated how high the guaranteed pensions would be for each provider if you paid in 200 euros per month for 30 years (72,000 euros in total) and received the pension at 67. They looked at investment success, the insurer's costs, flexibility, and transparency of the contracts.
The verdict: most plans were just "satisfactory". High costs make em unprofitable. Costly insurers can't promise a high pension.
Only three plans earned a "good" rating: Europa E-RCP (2.2, guaranteed monthly pension 218 euros), Hannoversche Bausteinrente R4 (2.3, 240 euros), and Die Bayerische KlassikRente 25867 (2.4, 220 euros). Test winner Europa keeps costs low, boosting the return. Here, costs lower the return by only 0.32%, while Allianz PrivatRente Perspektive is a painful 1.24% - nearly four times as much (guaranteed monthly pension 204 euros, "satisfactory"). Hannoversche offers the highest guaranteed pension, but it's weak on flexibility and transparency.
If insurers don't pay out more than the guaranteed pension in the end, you've gotta live over 90 to get your full contributions back, even with a good policy from the comparison.
Source: ntv.de, awi
Insights
Trends and Factors:- Market trends impact the performance and appeal of pension policies.- Key factors to consider when evaluating policies include costs, guaranteed monthly pension, and flexibility.
Allianz PrivatRente Perspektive:Allianz is a trusted brand in German insurance. Expect competitive pricing and benefits like adaptation options and investment returns.
Comparison with Others:When comparing Allianz to other policies, consider factors like costs, guaranteed pensions, and flexibility.
Stiftung Warentest Ratings:Stiftung Warentest's evaluations offer valuable insights into the cost-effectiveness and performance of insurance policies. Specific ratings for Classic Private Pension Insurance policies weren't available in the search results.
In light of Stiftung Warentest's evaluation, it's crucial to carefully consider costs, guaranteed monthly pensions, and flexibility when choosing a vocational training or personal-finance investment, such as a classic private pension insurance. For instance, Allianz PrivatRente Perspektive is a known insurer offering competitive pricing and benefits, yet other providers like Europa and Hannoversche offer more cost-effective options with higher guaranteed monthly pensions, as seen in their 'good' ratings by Stiftung Warentest. rafting business can learn from these findings and adopt strategies that prioritize these factors to ensure their financial sustainability and success.
