(2024) Who is the Rürup pension suitable for?

In principle, a Rürup pension is suitable for anyone who wants to save for retirement with tax benefits. However, it is particularly interesting for those who are not covered by statutory pension insurance and who cannot use a Riester or company pension: such as the self-employed, freelancers, and business owners. The Rürup funding is also attractive for high earners.

With this type of private pension provision, policyholders do not receive bonuses like with the Riester pension. The state support consists of tax advantages, as Rürup contributions can be claimed as special expenses in the tax return.

However, the tax incentives for contributions are subject to conditions. This is to ensure that the Rürup contract is genuinely used for retirement provision. For example, the monthly pension may not be paid out before the age of 60. For contracts concluded from 1 January 2012, the insurance contract may only provide for the payment of the annuity upon reaching the age of 62. Furthermore, the acquired entitlements cannot be pledged or sold. The tax incentives for the private basic pension relate to the contributions paid, as with other pension insurance schemes. Like payments to the statutory pension fund or professional pension schemes, they can be claimed as special expenses in the income tax return.