For all retirement savers: Thus, the private pension is safe even with long-term unemployment

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14.04.2015 – Insurance tip

  • Those who apply for long-term unemployment support from the state must first use their own financial reserves.
  • The legally defined protection is safe – as well as funded pension plans such as the Riester or Rürup pension.
  • In the case of private life and annuity insurance, an exclusionary limit can be used to exclude recovery.

Only the job away and then also the savings? If you can not find work for a long time, there is not much left. Because before the state pays unemployment benefit II (ALG II), those affected need to use up their assets. Although there is the so-called protection, but beware: Age reserves are not automatically protected. “In the case of long-term unemployment also threatens the loss of parts of the private pension,” warns Michael Greifenberg, insurance expert at CosmosDirekt. “If you are well informed, you can minimize the loss.”

What is the protective property?
In German social law, the protection of property is the part of private wealth that the state is not allowed to touch. Those who receive social benefits have the right to a decent car and adequate household goods. There is also a statutory allowance that includes assets such as cash, checking account balances, securities and life and pension insurance. For each completed year of life, 150 euros are set as a free allowance, but at least 3,100 euros. Regardless of the level of protection, subsidized forms of old-age provision such as the Riester or Rürup pension are protected against state access in the case of long-term unemployment. This protection is valid until the beginning of the pension and only for the subsidized capital.

What can affected people do when their protective capacity is already exhausted?
For pecuniary claims that serve the pension, such as balances from unsubsidized life and pension insurance, an additional upper limit can be used. This is 750 euros per completed year. However, this requires that the insurance does not become due before retirement and that the customer agrees with his insurer on a so-called exclusion of use. The agreement should be made in good time before applying for unemployment benefit II. Please note: “An exclusion of use irrevocably means that a benefit from the contract will be paid only from the beginning of the pension. The contract can not be terminated beforehand, “says Michael Greifenberg. This also applies if those affected find work again and no longer receive money from the state.

  • Exclusion of use 84 KB

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Press contact CosmosDirekt

Stefan Gobel

 

 

0681-9 66 71 00

0681-9 66 66 62

presse@cosmosdirekt.de

 

Nicole Canbaz

 

 

0681-9 66 71 47

0681-9 66 66 62

nicole.canbaz@cosmosdirekt.de

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© CosmosDirekt 2018 | Telephone: 0681-9 66 68 00 | E-Mail: info@cosmosdirekt.de https://static01.cosmosdirekt.de/CosmosCAE/I/relaunch/img/logos/cosmosLogo-fp-86e177aadcb20bdacc563760fc5a34df.svg https://www.cosmosdirekt.de

A company of Generali Germany