Cashback - the turbo for your retirement plan
With the help of your itRente number, you can make online purchases at well-known retailers in almost all industries. In addition to this you can have a free Visa credit card. As an attractive alternative to current point systems (Payback card, Deutschland card, Lufthansa-milesandmore-card and various individual business promotional cards), you will receive a share of the purchase price for each of these purchases as a cashback, credited to your personal retirement savings account.
How much is the cashback ?
The cashback at itRente can reach up to 4% (more often) and, in rare cases, up to 10% (eg when traveling for holidays). Through various promotional offers from the providers, the cashback can sometimes be doubled. In addition, there are always changing voucher offers from retailers. Most importantly you pay the official online prices for your purchases and not special, higher prices which have been raised because of the cashback. Using the free Visa creditcard you get a 0.5% cashback on every credit card transaction which will also go towards your personal pension account, regardless of whether the transaction is an online purchase or not.
Where can you shop with cashback?
The seller network of itRente includes more than 800 retailers in almost every industry, some including only online and others including both online and stationary purchasing. Above you can see only a small selection of providers. Since this seller network changes constantly, we would like to point out that the selection shown reflects the status of March 2017. Only online purchases are cashback-capable. Visa has about 35 million acceptance points worldwide.
The cashback calculator
With our cashback calculator you'll get an idea of what your online purchases at retirement could add to your pension. Enter your age and an estimate of your monthly online purchases. Take into account annual or one-off purchases such as laptops, mobile phones, holidays, etc. If your family members also use your online shopping access take that into account as well. If you travel professionally and spend travel expenses, this could also increase your cashback.
The calculated result above shows you the amount that you could accumulate through online purchases on-top of the pension of your corporate pension account. VAT has been excluded because the cashback only applies to he purchase value. Not included are the cashbacks which you can additionally acquire by the use of your free Visacard wherever you want. The result is an estimate based on the following assumptions:
Average cashback on online purchases 4% - Annual inflation 2% (ECB target) - Annual increase in consumption between ages 18 and 35: 2%, between 36 and 67: 1% - Annual interest on your cashbacks (after costs) 4,5% - capital payment at the age of 67 (state retirement age).