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Equivalent to SIPP, ISAs from the UK in Germany

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The UK has a SIPP (Self Investment Pension Plan) (https://en.wikipedia.org/wiki/Self-invested_personal_pension) as one of the many pension options. For someone who likes to pick their own shares, rather than just buy funds, it's and ideal method to hold shares until retirement. The UK some years ago stopped the forced purchase of annuities and now allows people to simply withdraw money saved in the pension fund by selling the stocks/funds they hold there as an when they wish. So a 3.5% sale is the 'recommended' (https://en.wikipedia.org/wiki/Retirement_spend-down#Withdrawal_rate) amount per year, which effectively gives you a similar return, but without the guarantee of an annuity, or the associated costs. So people at least now have a choice. Earned income paid in has no income or social taxes applies to it, and an employer can also contribute without said costs. Pension payouts are taxed, which is likely to be at a much lower rate come retirement. Contributions are set as some percentage of salary, with an upper limit.

 

The UK ISA scheme (https://en.wikipedia.org/wiki/Individual_savings_account) is similar to pension schemes which allow you to hold shared directly. You get a fixed allowance per year of money you can put in. Like pensions, you can hold funds or shares or even a small amount of cash. If you don't use the allowance in one year, it does not carry over. Money paid in has been taxed, so money taken out is not taxed. Like SIPPs, dividend and capital gains are not taxed.

 

So I was wondering if Germany has something similar to either of these, something which allows low cost, direct share ownership?

Given brexit, are there any issues regarding either opening such a UK scheme, or holding onto existing schemes? How would these now be treated in Germany?

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You want the costs to be as low as possible. I went with onvista bank when this became a relevant matter for me.

 

I think Germany has not SIPP or ISA equivalent offerings.

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