What to do with the Riester pension insurance?

And regarding the allowance, the state doesn't give anything for free, I have to pay it back in my pension anyway!

What exactly do you have to pay back? And why?

Stop with the barroom slogans, it's unbearable.

Everything must be taxed again upon retirement.

I am happy to be proven wrong! Is there some kind of comparison calculator? There is something like that for [Bausparvertrag] as well, basically a bet on rising construction interest rates...

You have to pay tax on everything again upon retirement.

define "everything"?

The simplest option is the Riester (fund) savings plan. You receive the balance as a monthly pension. This counts as income and is taxed as such. It also makes sense, since your contributions were paid from gross income and thus were not taxed. You can calculate how high the tax burden is with any income tax calculator. Usually, income during retirement is lower, so the tax rate is also lower.

Whether Riester "pays off" with premiums, contribution amounts, and tax rates is highly individual. Generally, high earners with children benefit the most.

By the way: you do know that you will also have to pay tax on your statutory pension, right?

Yes, okay, that is clear to me so far. I just need the money for the house and not in retirement age when it is already paid off!

You are also allowed to use it to pay off a self-used property. But for it to have any effect, there has to be something in it. What’s in there now is just a drop in the ocean. I put 18 thousand into the house from my Riester, left three thousand to keep paying the contract. When I retire in three years and a few months, I will kill it entirely and pay off the house 100% and go into retirement debt-free with a paid-off house. That’s the plan. Now there is still 43 thousand debt left. At 63, about the 13th round 11 from the Riester, the remaining 2 will be found too. Boom, done.

Great, that is a good example. And do you know what additional tax burden you will have now? Have you also considered whether you would have a lower remaining debt with more ST? If I understood correctly, you would have had a total of 29,000 euros in the Riester, right?