Rürup-Rente - a German pension scheme

Just wondering if anyone has experience with the Rürup pension scheme? If I can find the info in English I'll post that too.

From what I understand its a scheme in which 60% of your contributions is tax-deductable (with a cap on €20,000 per annum). One catch is that if you leave Germany the Government wants its tax back, but you can delay payack until retirement and it may even be scrapped due to being against EU regulations. You can change or stop your contributions to it, and go for an investment fund type option.

Anyway, does anyone have experience with this? Which company did you go with? Did you choose the investment fund version? Any advice appreciated!

quick bump, now that more people are back in work!

anyone? or are pensions too boring and irrelevant?

I investigated through Hambug Mannheimer, and Allianz. The problem with these schemes are that the administrative costs are quite high, and you'de get the same return just putting it in a bank account giving 4% interest. I decided to go for offshore, high risk, high growth instead.

thanks MAM!

Were the initial administrative costs too high or the annual/recurring maintenance costs? I'm not yet up to date on all the facts and figures.

My sister told me to write a program where I could calculate how the nest egg would appreciate through compound interest and compare it to their results. Which I did. I had no overview of their charges, just the result at the end of the day.