Supplementary funding - WohnRiester

How much did you withdraw? Sum x is the housing promotion account, plus 2% interest per year, until the day your Riester pension becomes a retirement pension and the payout phase begins. Let's assume it was 10,000 euros in 2018. The Riester contract runs until 2030. So 10,000 plus 2%, 10,200 plus 2%, etc. until 2030. Clear?

I need to get some information on that. I believe it must have been about €7,000 in 2017. I will look into it; I have wanted to do that for a long time anyway. Oh, and about the payout: at the time, before the home loan, we were told that it would be done within a few weeks. When it actually came to it, it then took about 6 months, for whatever reason. When I inquired, they always just basically said that it doesn't go faster and takes as long as it takes...

The duration is certainly provider-specific. My Postbank Riester paid out quickly. Four weeks or so.

The duration certainly depends on the provider. My Postbank Riester paid out quickly. About four weeks or so.

But don't forget the processing times of the central allowance office at the DRV. That didn't take that long either... but it adds on again.

I went through all this last summer. If desired, I can also look up the exact time periods again.

I also had my Riester contract paid out. You had to cancel it at the end of the quarter, and then it was paid out at the earliest at the next quarter-end. That can already add up to half a year.

I received a sum x as a payout, later I got a letter from the ZfA, stating that my housing promotion account shows the sum x* 8/5. I have not yet been able to determine where this difference comes from. And it’s about several thousand euros, which are now accruing interest and increasing my tax burden.

For my follow-up financing, I was offered a prepaid building savings contract by my bank. The interest rates are consistently cheaper than my regular loan. It also worked without a new mortgage. That means the bank advanced the building savings amount, for which I am now paying interest and saving in the building savings contract. Once it is ready for allocation, I repay the prepaid amount with it. Maybe that’s an option.