Christian Lindner for strengthening private pension provision: expansion of Riester contracts to include ETF savings plans

Christian Lindner for strengthening private pension provision: expansion of Riester contracts to include ETF savings plans

Federal Finance Minister Christian Lindner supported the strengthening of private pension provision at the anniversary celebration of the 25th anniversary of the Flossbach von Storch asset management company in Cologne. He expressed the wish that the advantages of the Riester contracts should also be applied to ETF savings plans. ETFs are stock funds that are based on an index such as the Dax or Dow Jones and have lower fees compared to conventional funds because they do not have active management.

Lindner plans to present the draft law after the summer break to enable Riester funding for ETF savings plans. At the event he discussed finances and retirement planning with experts. Christian Sewing, CEO of Deutsche Bank, emphasized the importance of economic growth for financing the German pension system and warned that the country must become more competitive by extending working hours.

Axel Weber, the former head of the Bundesbank, called for pensions to be adjusted to the increasing life expectancy of today's people. He also criticized the civil servants' lifetime pension, which is financed from the tax pot. The company founders and owners of Flossbach von Storch, Bert Flossbach and Kurt von Storch, reported on their long-term collaboration and the beginnings of the company, which was founded in 1998 and today manages 80 billion euros in assets.