Riester home savings contract in the test: Not suitable for all savers
In the current financial test issue (11/2014), Stiftung Warentest is examining which Riester savings contracts are recommendable. These are not suitable for any future property owner. But whether with or without promotion: building savings is as attractive as never, say the testers. A comparison is worthwhile.
In the current financial test issue Stiftung Warentest has carried out a Riester home savings contract test. The experts summarize: Despite low savings interest, building society savings “is more attractive than ever” – with or without funding. “Building society savings is a good choice for savers who want to secure low interest rates for their future financing,” said Stiftung Warentest. If there is still a claim to the state Riester subsidy, building society savers can save more capital through allowances and tax advantages than with an unsubsidized home savings contract . But not every person can conclude a Riester home savings contract. For example, most self-employed people have to resort to a contract without support.
A very different opinion, the experts of eco-test: In their current Riester home savings agreement comparison shows that the low interest sometimes eaten the supplements.
Riester home savings contract 2014 in the test: These are the test winner
Stiftung Warentest has determined the best offer for four model cases for the Riester home savings contract test 2014. In three cases, the test customers plan to build or buy a property in seven or ten years , in one case the timing is indefinite. The Bauspar sum varies from provider to provider, as the building societies could set the optimal sum. A targeted comparison in terms of Baussum sum is therefore difficult.
The provider Wüstenrot can prevail twice (rate “RC / FX 2.45”). Once each place the German building society Badenia (“Via Badenia 500 R Classic Finance”) and the Old Leipzig (“Easy financial Riester”) at the top of the ranking. The following Bauspartarife with Riester promotion – also called Residential Riester – have achieved several good results in the test, so they are recommended from the perspective of Stiftung Warentest:
- Old Leipzig
- German building societies Badenia
- Bausparkasse Mainz (“W WohnriesterPlus”)
Riester Building Contract Test 2014: Planning for tomorrow today
One of the benefits of a Bauspar contract is that the currently low interest rates on the loan can be secured in the long term . Even if the interest rates rise again in the future, building society savers receive their loan at the interest rate that they agreed years ago. A home savings contract is therefore suitable for people who plan the construction or purchase of a house or apartment only in a few years . Anyone who wants to take advantage of the favorable mortgage lending conditions now has to resort to another form of mortgage lending.
Downstream taxation at Wohn-Riester
Those who opt for a Riester home savings contract, should pay attention primarily to the savings and loan interest , but must not forget the taxation in old age . Riester savers must post-tax the received subsidies at the retirement age. For this purpose, the legislator has introduced the so-called housing subsidy account . On this fictitious account, “all sponsored savings and redemption payments are recorded and bear interest at two percent,” says Stiftung Warentest. At the beginning of retirement, the total tax must be taxed, with two options.
Either Riester savers pay their taxes in one fell swoop. Then they only have to pay tax on 70 percent of the total in the account. Or they tax the account balance up to the age of 85 in annual installments. Downstream taxation is often seen as a disadvantage. However, since the personal tax rate is usually lower in old age than at the time when a contract was concluded, contractors usually save at the end.