According to the current status, the payment phase of the retirement pors is much more flexible, so that savers have more options in the future as to plan their payments. At the beginning of the payment phase, two options are available: A lifelong lifier that is paid out every month until the end of life, or A fixed -term payment plan that provides for payments up to the age of 85. After that, payments end up, which offers the advantage of avoiding switching to expensive age insurance from the age of 85.
In addition, there is the possibility to remove up to 30 percent of the capital saved at the beginning of the payment phase as a one -off amount without affecting the monthly pension payments. The regular payment phase begins at the earliest from the age of 65unless the saver receives benefits from a legal retirement system. In the payment phase, there is also the option to change the portfolio into low -risk products. For this purpose, an inexpensive change is introduced to facilitate the transition to safer systems.
Although early withdrawals are possible, they usually mean that the previously received tax advantages and state grants have to be repaid in whole or in part. The rights of the savers to leave the contract or switch to another provider are fully maintained.