What to do with the Riester pension insurance?

our contributions for the Wohnriester are deducted from the net amount.

In other words, if we claimed that in the tax return, it would result in double taxation.

No, you are mistaken. The monthly gross-net calculation is only a preliminary "estimate." The final calculation of the tax deduction is only made with the tax return. There you report the contributions, and these are deducted from the gross income as retirement provision contributions, thus reducing the taxable income.

The premiums are then added back to the reduced tax burden. If the "tax gain" is greater than the premium, you receive the difference paid out directly; if it is smaller, then it stays with the premium.

Ok, thank you very much! I will get some advice on that!

It definitely seems like the advantages outweigh the disadvantages!

no, you are mistaken.

What you write is indeed correct -- as far as I, a layman, can judge. But nevertheless, the Riester contributions are paid from the "net," which can also be seen from the fact that the social security contributions are calculated beforehand (from the original gross).

And what does it change? Riester income in old age is not tax-free. That is how it is. Tax-free retirement provision is now only the old life insurance policy, ours from 1985 is such a case, matures this year and is tax-free. The newer ones are no longer tax-free either. By the way, I actually find it unacceptable by politics that they do not at least make retirement provision, no matter which, tax-free when they already cut it. And pensions and retirement benefits have definitely been cut.

Ok, thank you very much! I will get some advice on that!

It definitely seems like the advantages outweigh the disadvantages!

Don't forget the Wohnförderkonto! When withdrawing from the Wohnriester, this account is (virtually) created and interest is accrued annually. The Wohnförderkonto is then converted into a monthly amount upon retirement, which must be taxed at the individual's personal tax rate. Therefore, the comment "everything must be taxed downstream" is not necessarily wrong!

Who ever claimed otherwise. But the OP doesn’t have a Wohnriester. Instead, he has a Rentenansparriester. If he continues to contribute for another 20 years and then receives a 300,- supplementary pension for life, then the 300 must be taxed. If he continues to contribute for another 20 years and then taps into it to pay off his house with the 30,000 in there, he has to pay tax on the 30,000. One-time at 70%, so only 21 instead of 30. Or the 30 distributed over many months for 10 years...I think. Or 15? I forgot.