Thank you for your efforts. I have a BAV that my employer "gave" me on top at the time and I didn't pay anything else into it voluntarily. I'm going to stop working for the company at the end of the year and then I'll probably make it non-contributory or cancel it. I think it's better to cancel and I'll put the little money I get into an ETF until I officially retire in 7 years' time. After the termination, I can report how much of the money that my employer has paid in over the last 12.5 years I will get out. I already have a terrible feeling.....
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3Mon
@trader64 I had also been given a company pension plan with Allianz (direct insurance) by my employer. When I found out about the conditions, I canceled it and had it paid out. The capital was approx. +-0 after 5 years. After payout (possibly due to a shortfall) it was approx. 30% less. But I'd rather have it that way than have dead capital for another 20 years and end up paying 30%.
Better an end with horror... .
Better an end with horror... .
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@Epi great post which I have been thinking for long time. I am intending to cancel after having paid into bav for 10 years. But I am unclear if it makes sense to do so now. Is it better than too late?
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@Epi How did you justify the early payout? I also have a direct insurance policy (dormant for 12 years) from my first employer. According to Allianz, a payout is only possible from the age of 60 if the DP is terminated?
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2Mon
@TheGuardian If you want to provide for your retirement with market returns, an ETF savings plan is definitely more profitable. bAV is only worthwhile for people who want to provide for their retirement in their call money account.
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@GrafZahl_Boersenstrasse There is a so-called de minimis limit (4242€/ 35€pM pension). If you have less, you can have the amount paid out.
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•@Epi Thank you very much! Unfortunately, I'm a bit over the limit after all. Crap.
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2Mon
@GrafZahl_Boersenstrasse In any case, you can still suspend the payments. You won't be able to get your hands on the pile and it will probably only be worth a fraction in the end, but at least you won't be throwing good money after bad.
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