Altersvorsorgedepot
made easy.
A new way to invest for retirement.
From 1 January 2027, Germany’s new retirement framework offers state-supported investing without a compulsory capital guarantee. More investment freedom can mean more growth potential—and more risk. We help you understand whether it fits your plans.
Planned start: 1 January 2027. Availability, charges and investment choices depend on the provider’s certified product.
MORE ROOM FOR LONG-TERM GROWTH
What makes the new depot different?
Invest with
more freedom
Depending on the product, savings can go into eligible funds or ETFs through a fund platform or insurance arrangement. Removing the guarantee leaves more room for growth-oriented investments. Returns are variable and losses are possible.
A simpler
standard option
The Standarddepot uses two funds: one cautious, one growth-oriented, with a default allocation and gradual risk reduction. Its effective cost ceiling is one percentage point of annual return over the contract; other products have different charges.
The framework starts in 2027. Actual availability, investment choices and charges depend on the provider’s certified product. Guarantee-based alternatives remain available for people who prefer greater security.
STATE SUPPORT, EXPLAINED
What could the government add?
Up to €540
basic allowance
The first €360 you save each year attracts a 50% allowance; the next €1,440 attracts 25%. At €1,800 of annual saving—€150 a month—the basic allowance reaches €540. At least €120 of annual contributions is required.
Extra support
for eligible families
The child allowance matches your contributions up to €300 per eligible child each year, subject to the child-benefit rules. A qualifying saver under 25 can also receive a one-off €200 starter bonus.
Example: €1,800 of your own annual saving plus €540 basic allowance puts €2,340 into the plan before investment gains, losses and charges. Child allowances can add more where you qualify.
Eligible groups include employees, civil servants and qualifying self-employed people; some spouses qualify indirectly. A German address alone does not establish eligibility. Contributions can reach €6,840 annually per contract, but the basic subsidy applies only to the first €1,800.
Funding and launch: Federal Government.
TAX RELIEF AND RETIREMENT PAYOUTS
Understand the benefit—and the commitment
Tax advantages
while saving
Investment earnings are not taxed during accumulation. The special-expense deduction is limited to €1,800 plus allowances. The tax office compares the deduction’s value with your allowance entitlement; you do not receive both benefits twice.
Later, the entire payout attributable to subsidised contributions—including those contributions, allowances and gains—is taxable at your personal rate. This is nachgelagerte Besteuerung. Unsubsidised contributions follow different rules.
Income options
in retirement
The normal payout start is between 65 and 70; an earlier statutory old-age pension can permit an earlier start. Choose a lifelong annuity or a withdrawal plan calculated to last at least until age 85. The latter does not guarantee lifelong income.
Up to 30% can be taken as capital at the start. Other early withdrawals generally mean repaying state support unless a specific exception applies. This is retirement saving, rather than an everyday-access investment account.
BEFORE YOU CHOOSE
Make it fit your life across borders
Moving abroad?
Check the funding.
Living outside the EU/EEA at the start of, or during, payouts can trigger repayment of allowances and tax advantages. Cross-border tax rules also matter. US-connected clients should obtain specialist advice before choosing investments or transferring a plan.
Already have Riester?
Compare before switching.
Existing Riester contracts can continue. A transfer to the new framework is optional and can change guarantees, charges and subsidy rules. Compare your current rights with the new offer, including risk tolerance, access restrictions and the expected net retirement income.
KEEP LEARNING
Retirement planning articles
Why Riester fell short—and what the Altersvorsorgedepot changes
A fresh start for retirement saving from January 2027. Explore the new investment choices, the standard depot’s cost ceiling and what removing a compulsory guarantee means for your future.
FIND YOUR NEXT STEP
Let’s plan for
your next chapter.
We listen first, then connect you with a specialist who can compare the options around your circumstances. The product should fit you.
General information, checked 3 October 2026. Individual tax treatment and contract terms matter. Framework effective from 2027. Sources: BMF reform FAQ and GDV product and payout overview.