Riester-Rente

English translation: Riester retirement program

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

German term or phrase:	Riester-Rente
English translation:	Riester retirement program
Entered by:	Irene Fried

19:22 Feb 18, 2002

German to English translations [PRO]
Bus/Financial

German term or phrase: Riester-Rente

Dear all,

how would you explain that in an English text. Would you offer a translation/explanation?

Thanks for any comments :-)

Irene

Irene Fried KudoZ activity Questions: 69 (none open) Answers: 222 Germany
Local time: 16:45

"Riester" retirement program.

Explanation:
Us terminology.

Selected response from:

brute (X)

Grading comment

Although Patricia's answer was the best, I have to choose this one, as it was an AE text.

But a big thank you goes to everybody who replied. Irene
4 KudoZ points were awarded for this answer

Summary of answers provided

5 +2

See explanation

Beate Lutzebaeck

4 +1

Riester pension plan/ savings plan/ savings package

Patricia Gifford

"Riester" retirement program.

brute (X)

Riester's pension plan, named for the German Minister of Labor and Social Affairs

Lori Dendy-Molz

Answers

9 mins confidence:

peer agreement (net): +2

See explanation

Explanation:
This question was previously asked and answered (for some reason - probably the current technical difficulties at ProZ - I can't access the glossary function).

Anyway, I've used the following explanation for this term in the past:
"called the “Riester” pension in Germany after the Federal Minister for Labour and Social Affairs" - that is, I've actually translated this sentence into German as "Riester-Rente".

My trusty work bench

Beate Lutzebaeck
New Zealand
Local time: 02:45
Native speaker of:

German,

English
PRO pts in pair: 2079

16 mins confidence:

Riester's pension plan, named for the German Minister of Labor and Social Affairs

Explanation:
just another suggestion

Lori Dendy-Molz
Germany
Local time: 16:45
Native speaker of: English
PRO pts in pair: 1453

17 mins confidence:

peer agreement (net): +1

Riester pension plan/ savings plan/ savings package

Explanation:
Hi Irene :-)

Commerzbank calls it "Riester pension plan"
http://www.google.de/search?q=cache:UQ69E1O_fAsC:www.commerz...

Finance and Service Boom as a Result of Riester
(Fondsweb) From the point of view of F & C, focus will be increasingly steered towards private pen-
sions with the approval of the Riester pension plan. An existing gap in supply should be closed, i.e. the
difference between last net salary and pension level, to be able to maintain the accustomed standard of
living. To that purpose, finance companies will offer varying products or putting them on the market in
the near future. Banks finance service providers and insurance companies should benefit from this
trend towards private pensions. In the next years, investors will have to take responsibility in their own
hands for their coverage, with addition demand for advice. The possibility exists therefore to bring
customers into discussions and generate new business. It is estimated that around 200 bn Euro will be
invested by German citizens alone in government supported pension products. Additionally related
pension expenses are not included in this figure. F&C claim that this opens up immense potential for
finance institutions. Private pensions, as a means of old age coverage, are moving into the foreground
in Germany as they have done in many other European lands. Without private coverage, F & C claim
that it will be markedly difficult to maintain an accustomed standard of living.

However, Google also produces many hits with Riester savings plan
(http://www.mathematik.uni-ulm.de/de-news/2000/05/302300.html...
Riester: pension reform could be passed in early 2001
Bremen. The planned pension reform could be passed in early 2001, said Employment Minister Walter Riester. This, however, could be achieved only when government and opposition agree on the cornerstones before the summer break, said Mr Riester at a conference of employer associations in Bremen tonight. Then the bill could be tabled for further discussion in September. Leading representatives of CDU/CSU called the draft that was published to day "disappointing" and questioned again co-operative talks about the pension reform. The Red-Green coalition wants to set up a new pension system by 2008 that consists of a compulsory collective pension insurance and a private savings plan)

HTH, Patricia

Reference: http://www.commerzbank.com/news/fondsnew/wnews_33e.pdf

Patricia Gifford
Local time: 16:45
Native speaker of: German
PRO pts in pair: 74

15 hrs confidence:

"Riester" retirement program.

Explanation:
Us terminology.

brute (X)
PRO pts in pair: 255

Grading comment

Although Patricia's answer was the best, I have to choose this one, as it was an AE text.

But a big thank you goes to everybody who replied. Irene

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