Overview

• Stiftung Warentest evaluated 14 classical and 22 fund-linked private pension insurance products, finding none deserving of a 'very good' rating.
• High costs erode returns, with some classical policies guaranteeing payouts below the total contributions paid, including Allianz, which guarantees only 94%.
• Among classical policies, Europa-Versicherung’s E-RCP emerged as the best performer due to low fees and solid investment performance.
• Fund-linked policies also performed poorly, with only three receiving a 'good' rating and none achieving top marks due to high costs.
• A 30-year ETF savings plan was identified as a better alternative, offering 7.2% more wealth accumulation compared to costly fund-based pension policies.