There is a lot of talk about private pension provision. In 2000, NÖN reader Evelyne K. took out a supplementary pension insurance with profit sharing, so the technical jargon. Now she needed the paid-in money and wanted to buy back the insurance. It does not work. The assessment of the ERGO insurance was also confirmed by the Chamber of Labor.
During these difficult times, Evelyne K. wanted to terminate her contract in order to at least get the amount paid. The answer from ERGO insurance was short and unfortunately unpleasant. “The contract cannot be terminated according to the conditions.” The NÖN then contacted the Chamber of Labor of Lower Austria – with the same result. This type of supplementary pension insurance can only be used in one way – as a pension. And nothing else.
Pension insurance after the child is born
The birth of their child was an essential impetus to do something for private provision. At that time at Union-Versicherung (Union Versicherung was finally absorbed by ERGO, note) Evelyne K. took out the said pension insurance. At that time, it also included risk insurance with a term of ten years – in other words, classic life insurance. It didn’t have to be used. Fortunately – the NÖN reader is still alive. The pension insurance has a term of 28 years, with a monthly premium of around 43 euros. A lifelong supplementary pension of around 72 euros should be paid out for this. More than half the time, K. dutifully paid her premiums. In 2015 she had the contract exempt from premiums for personal reasons.
“I really needed the money now,” said the NÖN reader. After all – if you add up the premiums paid, you get around 7,700 euros, without any interest. Which will now remain with the insurance company until the insurance expires in 2028. But even then, it is not the total amount that is paid out, but the monthly pension. But with a lower amount due to the premium exemption.
The NÖN reader has no choice but to grumble and submit. “I am not familiar with legal texts. Allegedly, this is one of the few insurance companies that cannot be terminated because of government subsidies. But especially when times are difficult, it might be possible to enable people to get their paid-in money ”, the reader appeals to the legislature to create special regulations. “I’m sure that it’s not just me,” concludes Evelyne K..
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