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There is no single best answer to this question, because there are numerous forms of old-age provision. And depending on your situation, different products are best suited to your needs (savings plan, ETF, pension insurance, etc.). You can find independent comparisons on the web to guide you.
For example, the German Institute for Service Quality (DISQ) presented a comprehensive study on old-age provision in 2019. DISQ took a close look at 28 different insurance companies that offer private old-age provision or a private pension. If you want the most flexible payout possible in old age, other products are better suited than if you want to skim off the maximum state allowances.
In any case, you should plan your old-age provision in good time, because the statutory pension (basic pension) alone is definitely not enough for a carefree retirement. A pension planner is helpful here.
At Horizon65 we can help you determine if private pensions are worth it for you. Use our mobile app to simulate its effect on your future taking into your existing investments and potential impact of inflation and taxation.
Our mobile app also enables you to compare various aspects of private pensions such the impact of ETF-based private pensions vs. classical private pensions.