Retirement account (Altersvorsorgedepot)

The Retirement account (Altersvorsorgedepot) will be introduced as a state-subsidised private retirement product and will replace the Riester pension. It enables citizens to save for retirement with tax benefits and without compulsory guarantees, allowing capital-market-based investments with higher return potential. The Retirement account is scheduled to launch on 1 January 2027.

Within the Retirement account, retirement assets can be invested in ETFs, actively managed funds or bonds. Earnings remain tax-free during the accumulation phase, and existing Riester contracts can be transferred to the new system. For contributions up to 360 euros, you receive a basic allowance of 50 cents per euro contributed. For additional contributions up to a total of 1,800 euros, 25 cents per euro are granted; the allowance amounts to a maximum of 540 euros per year. For savers with children, there is an additional child allowance: up to an individual contribution of 300 euros per year, every euro contributed is fully subsidised per child. This contributes another 300 euro per child. For individuals under the age of 25, there is also a one-off career starter bonus of 200 euros.

Furthermore, greater flexibility is available in the payout phase, for example through withdrawal plans as an alternative to a lifelong annuity.

In addition, the Early Start Pension (Frühstart-Rente) provides a complementary state subsidy for children and adolescents.