(2023)
What is the level of funding through employee savings bonuses and government bonuses?
You are entitled to the employee savings bonus if your taxable income does not exceed a certain limit:
- For share-based savings (e.g. investment funds), the limit is 20.000 Euro (married couples 40.000 Euro).
- For building society savings, the limit is 17.900 Euro (married couples 35.800 Euro).
If you stay below the respective income limits, the additional financial benefit from the state bonuses can be worthwhile:
The employee savings bonus is 20 percent of the annual savings payments for share-based savings.
Example
If you pay in the maximum amount of 400 Euro, you will receive an annual state bonus of 80 Euro. Since all employee savings contracts must run for at least six years, this amounts to 480 Euro that the state adds to the savings.
For building society savings, the subsidy is only nine percent - but the subsidised savings amount is higher: On a maximum of 470 Euro paid in per year, employees receive 43 Euro annually (rounded). That would be 258 Euro in six years that the state adds on top.
Home loan bonus
And another plus for building society savers: In addition to the employee savings bonus, every building society saver whose taxable income is below 35.000 Euro (single) or 70.000 Euro (married) is entitled to the home loan bonus (WoP). Since 1 January 2021, the home loan bonus has been significantly improved, even for existing contracts. The improvements are:
- the bonus from 8.8 percent to 10 percent,
- the maximum savings amount from 512 Euro / 1.024 Euro to 700 Euro / 1.400 Euro,
- the income limits (taxable income) from 25.600 Euro / 51.200 Euro to 35.000 Euro / 70.000 Euro (single / married).
Note: There are three different state subsidies for building society savings: If the employer transfers capital-forming benefits - also from their own salary - to a building society savings contract, you receive the employee savings bonus. If you pay your own contributions into the building society savings contract, you can receive the home loan bonus. And thirdly, since 2008, you can also claim the Riester subsidy for your own contributions to a certified building society savings contract.
Capital-forming benefits can also be used to repay a building loan and you can also receive the employee savings bonus for this, as long as you are below the income limit. If the lender allows additional repayments, you can reduce your building debt more quickly in this way. In addition to the state subsidy and the employer's capital-forming benefits, there is of course the performance of the respective product. It is worth comparing the best providers.
Rechner
- Förderrechner Riester-Rente: Mit dem Riester-Rechner können Sie Ihre persönlichen Daten zur Riester-Rente berechnen. Der Rechner ermittelt wie hoch die verschiedenen Zulagen ausfallen und welche Höchstgrenzen für Sie relevant sind.
