The pension plan for many a book with seven seals. The products are as varied as kompliziert.Doch there are also simple and flexible building blocks for pension savers: exchange-traded index funds. ETF-savings plans can be used for retirement as an inexpensive building blocks. What is written below German standards apply mutatis mutandis to Switzerland - where savings plans are available on ETFs based on have not - which is at best a plant in Germany and therefore worth in € could.
The Institute for asset accumulation (IVA) has examined what ETF bring savings plans, compared to the Riester pension or Rürup. "State-funded private pension provision: No alternative or superfluous?" have overridden the experts their work. They come to the conclusion that Exchange Traded Funds (ETFs) a "new and interesting solution" were. In addition to the traditional retirement plans, investors can with the exchange traded fund-age pension, or even build their own retirement completely.
"The potential of ETFs, which is the traded Exchange Traded Funds or short index funds, for private pension provision is still largely untapped. Index funds have what it takes to active funds in retirement to replace, "Thomas Meyer says to Drew, who manages the ETF business by Lyxor Asset Management in Germany and Austria and was on whose behalf the study. Especially for investors with a Riester contract would like to plan out, to close its pension gap in age further, are ETFs the perfect way
The Germans ignore their retirement Worse... flee you almost from the corresponding products One recent study shows for retirement . The Institute of Allensbach has Order of the Postal Bank is exploring how the financial crisis impact on private savings behavior. Were interviewed in 1807 Berufsstätige in Germany. The results exceeded even the worst fears. One fifth of all working people has cut its pension plans or even canceled. Even those who had indicated in the previous year, they wanted to expand its private pension provision have to opt million different ways. To cutbacks, the Germans attacked the study, especially in private pensions and life insurance, Riester pensions and savings plans in stocks and funds.
reason that people save less, the now up to the hysteria increased rejection towards the financial markets and their actors. The financial crisis and the stock market crash has been profound. Confidence in the stock is at an all time low: More than two-thirds of Allensbach respondents said that economic and financial crisis have changed their attitude towards private pension provision. "It is very worrying that the risk aversion in the pension is so high," says Andreas Beck, Director of the Institute for asset accumulation. "Investors move away from the stock, but that is to reduce its rate of return." Especially within a timeframe of 30 years, it is entirely appropriate to cover a portion of the pension in stocks, if only because of the expected inflation. "Shares are equity investments and are therefore in investment to property values," says Beck. "They provide some protection against inflation." For fixed-income assets will be consumed at the current level of interest rates, the yield more or less by inflation.
But are not always mapped shares or ETFs, stock indices, the first choice "It depends on the individual situation of the saver, which pension product is recommended," says the IVA-expert. "The one with a high flow rate should not abandon the state-sponsored pension plans." However, those who earn a lot and just get a low rate of funding Riester go better with ETF-saving plans. From Riester, many experts recommend solutions from other hand. You generally have to be expensive, they say. "The cost of the unit-linked Riester are up to ten percent, sometimes even higher," says Andreas Beck. "The presses are sensitive to the rate of return."
If you are afraid and wanted to share the risk to fixed-income securities, should select the Riester-bank savings plan. "This solution proposes a bond ETF and the Riester-insurance very clear," says Beck, and reckons: "He who saves a total of 2100 € including state support of 154 €, has by the mere gift from the government a return of about eight percent achieved. Add to that the interest rate. " The create ETFs not on government bonds in the current interest rate environment. No clear rejection of the Riester pension as follows: "Just cut in people with low incomes and children Riester products very well," the expert on wealth accumulation. "They come quickly to a production rate of more than 50 percent for them to recommend a bank savings plan -.. A simple product with low costs" The target group of this funding through subsidies and tax benefits are also younger.
Often, products for investment and pension tied to long-term contracts and shed only a paltry returns. Who quit his contract early, losing the state supplements. A product or changing suppliers is possible, but involve high switching costs. The products are complex and often the providers their fees have very little impact transparent. But it is much simpler: With savings plans to various funds, ETFs, or with bank savings plans can be depending on their own risk tolerance, and private savings period decent sums to accumulate - as an additional pension or as capital stock, for example, a real estate purchase or the training of young players. A big advantage: You can stop the rates at any time or remove components, if you take is not liquid.
Their flexibility and its transparency and low cost points ETF savings plans in the study by the Institute for asset accumulation. They cut better, than traditional pension products. But there are also downside: a capital guarantee is absent in the ETF-saving plans. This, according to the makers of the study, but they are caught - and a fair share of the savings rate to higher-risk and low-risk ETFs. Also commented that exchange-traded index funds without Riester subsidies must fall, not so great weight, experts say. The high flexibility and lower costs to raise the perceived disadvantage.
It is sufficient but not to opt for a savings plan and the contract will just about to let the years run. The saving strategy should be regularly questioned critically. "Investors who make their own pension plans with ETFs need to bring a degree of personal responsibility," says Beck. "You have to decide how much they weigh equities and bonds." Depending on the remaining investment horizon should the composition be adjusted. Here, the new study by the IVA guidance. The researchers recommend two sub-portfolios, one with risk and opportunity and a larger equity ETFs with lower-risk bond ETFs (see chart). Depending on savings and time loss assumption can be chosen for the equity portfolio, a proportion 21-67 percent. When
Stock portfolio, the experts advise to a balanced mix of developed equity markets (MSCI World) and emerging markets (MSCI Emerging Markets). ETFs on the MSCI World, all issuers in the offer, are on the MSCI Emerging Markets are papers from Credit Suisse, DB X-Trackers, ETFlab, iShares and Lyxor. ETFs are also numerous sub-indices in the MSCI Emerging Markets as well as to individual developing countries. "We recommend to diversify the system as widely as possible and not rely solely on a single market," says Beck. "Investors should also keep an eye on the currency risk." Those who sit only on ETFs for the euro area, turn off the risk. "If, for example on the development would like to share the stock exchanges in emerging markets, comes to foreign currencies by not. "
The retirement portfolio includes equal parts euro government bonds (EuroMTS AAA Government), which can be viewed as least risky bond segment, and a little more profitable corporate bonds (iBoxx EUR is Liquid Corporates). A paper on the EuroMTS Government AAA is based on market. In a similar indices but also offer other issuers of ETFs. The iBoxx EUR Liquid Corporates make products of iShares, Lyxor, DB X-Trackers from and ETFlab.
Lyxor Drew Meyer to head about the benefits of low-cost index funds for retirement savings convinced "In the private pension ETFs play their cost advantages to the full. come In the long investment horizon, the lower fees particularly hard to bear and pay off the depositors bottom line by additional income of several thousand euros. "Direct banks demanded, however, until a few weeks ago hefty fees for ETF-savings plans. In July, calculated for example Comdirect 2,50 € plus 0.4 percent of asset-based fee. That made especially small savings rates unattractive. The return melted sensitive. Also, the competition could be the monthly savings to pay dearly.
But with the high fees is now concluded under the direct banks is a real price war broken: It started in the summer of ING-Diba, which requires only 1.75 percent per execution. By August Comdirect lowered the fee to 1.5 percent per order. In September, an initiative of the DAB bank. The online broker provides for at least five years 59 ETFs, the German Bank subsidiary DB X-Trackers toll-free in the savings plan option. The DB-X gives tracker products are available now for free even if Maxblue - also a subsidiary of Deutsche Bank. Also Consors has now calculated the proportion now standard two percent of the savings rate, without fee.
expensive addition, the ETF-savings plans at DAB Bank and Maxblue, if investors are not for the index fund DB X-Trackers decide. For apply to service providers like iShares and Lyxor at DAB Bank continued the old pricing of 2.50 € plus 0.25 percent of transaction volume. Just a little more, it must be at Maxblue. Here savers pay € 2.50 plus 0.4 percent rate. Experts recommend that you increase the savings rates while increasing the savings intervals. Who anspart quarterly or semi-annually higher rates, less fees charged under the dash. And that increases the rate of return.
Source: Handelsblatt
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