Savings promotion

The state promotion of saving efforts and wealth creation by private individuals is referred to as savings promotion .

Goals of saving promotion

The aim of promoting savings is first and foremost a social policy : The unequal distribution of wealth in the population is to be alleviated by increasing savings among the poorer sections of the population ( redistribution ). For this reason, measures to promote savings are usually linked to income limits.

In addition, increasing the savings rate is also mentioned as a macroeconomic goal.

In addition, attempts are being made to influence the selection of investment forms and the subsequent use of the funds through savings subsidies. To be funded z. B. investing in productive assets ( shares ) or in residential property .

Instruments for promoting savings

The state can encourage saving through savings allowances , bonuses and tax breaks .

Promotion of savings in Germany

In Germany, savings are promoted with the following instruments:

• Savers allowance
• Employee savings allowance
• Housing premium

The introduction of the final withholding tax was also discussed from the point of view of promoting savings.

There used to be funding opportunities at

• Transfer of asset shares to employees ( employee shares )

Furthermore, there are a number of funding opportunities for savings contracts for retirement provision ( Riester pension , Rürup pension, etc.).

Promotion of savings in Austria

In Austria, savings are promoted with the following instruments:

• state premiums for building society savings
• tax deductibility of payments on life insurance
• Withholding tax
• Allowances for interest

history

In the time of National Socialism , extensive savings were made. The KdF-Sparen (see Kraft durch Freude # Financing ) has been offered since 1934 at the Bank der Deutsche Arbeit and at the savings banks. The Volkswagen-saving move by the spring of 1945 340.000 savers more than 275 million marks to spare. Other savings promotion campaigns were the German Farmer Savings Book , School Saving , HJ-Sparen and Heimsparen . With the "Ordinance on the Control of Purchasing Power" of October 30, 1941, the iron saving program was brought into being. Forced savings promotion such as the Ostarbeitersparen also led to the generation of considerable savings.

literature

• Inderst, G., Mooslechner, P., & Unger, B. (1990). The system of savings promotion in Austria: attempt of an efficiency analysis from a financial perspective. Heidelberg 1990: Physica-Verlag, ISBN 3-7908-0461-4