GERMANY - German asset manager Union Investment has teamed up with R+ V Insurance to offer a new funds-linked pension portfolio for self-employed people and government workers.
During the savings phase Union Investment will offer five different funds, depending on the level of risk required. This will include a conservative portfolio or a pure equity fund.
Hans Joachim Reinke, CEO of Union Investment, said the fund could appeal to 17million people, in terms of being attractive to freelancers, self-employed people, and private customers.
The pension fund offered will be only fully tax binding from the year 2040.
Furthermore, the percentage rate will increase from 2008 annually at two percentage points and therefore contributions will be 100% tax free in the year 2025.
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