Private pensions
made easy.
Build retirement savings.
Keep your options open.
A private pension—Privatrente—can combine long-term investing with choices about how and when you use your money. Its appeal is flexibility and possible tax advantages at payout. Choose a contract around your life, rather than assuming you must turn all your savings into a monthly pension.
FLEXIBILITY FOR REAL LIFE
A pension that can adapt to you
Adjust your
contributions
Depending on the tariff, you can adjust payments, pause contributions and make extra deposits. Check minimum payments, charges and whether later increases affect tax treatment.
Choose your
investment approach
Consider funds or ETFs, a more cautious structure, or a mix. Fund choices and switching rules vary. Guarantees can limit investment freedom; market-based options can lose value.
Keep your
money invested
Some contracts let you postpone retirement payments and keep investing, with partial withdrawals or a withdrawal plan. This is subject to contractual age limits, withdrawal rules and tax conditions.
Choose how
you take it
A capital option can let you take a lump sum or combine capital and pension income. Beneficiary protection and payout deadlines matter. These options must be included in your chosen contract.
THE TAX BENEFIT AT PAYOUT
Understand the 12-year / age-62 rule
Half the gain
can be taxable
For qualifying modern contracts, a capital payout after at least 12 years and once you have reached age 62 generally brings only half the gain into your income-tax calculation. The gain is the payout less the premiums paid—not the whole payout.
This means half the gain is taxable at your personal rate, not that your tax rate is 50%. Qualifying fund-derived gains may also receive a 15% partial exemption. Contributions to a new ordinary private pension generally come from after-tax income.
A simple
capital example
€100,000 paid in → €150,000 paid out.
The gain is €50,000. With the 12/62 conditions met, €25,000 is taxable. At an illustrative 30% personal rate, that is €7,500 income tax.
This simplified calculation excludes any fund partial exemption, solidarity surcharge, church tax and other individual effects. Before the conditions are met, the favourable half-gain rule generally does not apply.
KEEP CONTROL OF THE DECISION
Capital, withdrawals or a lifelong pension?
Your choices: keep the money invested, take flexible capital payments where the contract allows, or choose a lifelong annuity. Compare flexibility, tax treatment and income security before deciding.
Why keep
capital available?
Keeping money invested can preserve flexibility over spending and beneficiaries, where the policy allows it. An annuity normally commits capital to income payments instead. Compare the guaranteed pension factor and survivor benefits before giving up that flexibility.
When income
certainty matters
An annuity can provide lifelong income even if you live much longer than expected. It has a different tax rule: at a start age of 67, generally 17% of an ordinary private lifetime pension is taxable at your personal rate. That is not a 17% tax rate.
Before choosing, compare the full insurance and fund costs with suitable alternatives, including a direct investment account. If you may leave Germany—or have US tax obligations—check future contributions, withdrawals, reporting and tax treatment with the right specialists.
Pension taxation: §22 EStG. Flexibility depends on the specific tariff.
A NETWORK THAT GIVES BACK
Up to €500 towards your visa costs
A qualifying private pension or Basisrente arranged through our network can bring up to €500 per eligible person towards eligible visa services. We pay a participating partner directly. Use eligible invoices within 12 months of the policy’s start date; unused amounts are not paid in cash.
Support can start by agreement. The contribution remains provisional until the first premium is paid and Unconfuse receives its referral fee. If you cancel before both conditions are met, the partner will invoice you for services already provided that would otherwise have been covered.
KEEP LEARNING
Retirement planning articles
Save more. Give it time to grow.
Keep your options open.
Discover how Basisrente and a flexible private pension can work together. Reinvesting tax relief can fund additional retirement saving, while combining the two can balance lifelong income with greater choice.
At Unconfuse, we believe the product should fit the person. We listen first, then connect you with a specialist who can explain how tax relief, retirement income and flexibility could work together for you.
FIND YOUR NEXT STEP
Let’s build a pension
around your plans.
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. Further reading: Private pension overview.