Savings/Pension
Saving for your retirement is really quite easy and should ideally be started as soon as possible, even if it's just small amounts.
In Germany, the pension system is built on three main parts:
- Basic pension
- Voluntary occupational and personal schemes
- Private pension
These three parts are further split into three levels. Level 1 includes the statutory pension and the Rürup pension, level 2 has the company pension and the Riester pension, and level 3 covers the private pension.