Altersvorsorgedepot Explained: 9 Questions People Ask
Banks and apps have started advertising it everywhere: the Altersvorsorgedepot, Germany's new pension depot with state money on top. It replaces the old Riester system for new contracts from 1 January 2027.
Before anyone sells you one, here are plain answers to the questions people search most. No product names, no pressure — just how it works.
Recently changed: The Bundestag passed the reform on 27 March 2026 and the Bundesrat approved it on 8 May 2026. Providers are preparing products now; details in each offer can still differ.
Before you sign: a 4-point check
- Can you leave the money alone until 65? If not, build your emergency fund first.
- What are the yearly costs? Small fee differences grow big over 30 years — see the compound interest calculator.
- Do you get the full subsidy? It only pays fully on contributions up to 1,800 € a year.
- Who is selling it to you, and how are they paid? Ask about commission and sales costs in writing.
Questions people ask
What is the Altersvorsorgedepot?
It is a new state-supported private pension in Germany. You invest regularly, mostly in funds, and the state adds subsidies on top. It replaces Riester for new contracts and has no classic capital guarantee.
When does the Altersvorsorgedepot start?
On 1 January 2027. The law was passed by the Bundestag on 27 March 2026 and approved by the Bundesrat on 8 May 2026.
How much money does the state add?
The basic subsidy is 50% on your own contributions up to 360 € a year (up to 180 €) plus 25% on contributions from 360 € to 1,800 € (up to 360 €) — a maximum of 540 € a year. There is up to 300 € per child per year, and a one-time 200 € bonus for young starters under certain conditions.
How much can I pay in?
The minimum is 120 € a year (10 € a month). The maximum is 6,840 € a year (570 € a month), but subsidies only apply to the first 1,800 €.
Who can get the subsidy?
Employees in the statutory pension system and civil servants, and — new compared with Riester — many self-employed people and members of professional pension schemes. Mini-jobbers who opted out of pension insurance and people already receiving a full old-age pension are not eligible. A spouse can get a reduced subsidy with their own contract.
Is my money guaranteed?
No. There is no classic contribution guarantee, which allows more growth but also means losses are possible. A standard depot option has a cost cap of 1.0% a year and gradually moves into lower-risk investments before payout.
When can I take the money out?
For new contracts, payout starts at the earliest at 65 and at the latest at 70. You choose a lifelong pension or a payout plan running at least until age 85. If you cancel early, you must repay the state subsidies and tax benefits. You can pause contributions instead.
How is the Altersvorsorgedepot taxed?
Gains are not taxed while you save. Payouts in retirement are taxed at your personal income tax rate. The tax office also checks whether a special-expenses deduction is better for you than the subsidy.
What happens to my existing Riester contract?
Contracts signed before 1 January 2027 keep their protection and can continue. You can ask to switch to the new system without paying back subsidies already received, but switching costs may apply. Compare carefully before you cancel anything.
The honest bottom line
For many people, free state money on top of long-term investing is a good deal. But it is long-term: think decades, not years. Read the costs, keep emergency savings separate, and never sign on the same day someone first explains it to you. If you want the bigger picture of making money work over time, read how to make your money work for you and the year-end money checklist for Germany.
Sources
- ING — Altersvorsorgedepot 2027 einfach erklärt
- Lohnsteuer kompakt — Private Altersvorsorge 2027
- fonds-super-markt — Bundesrat stimmt am 08.05.2026 zu
- capitalo — Altersvorsorgedepot: Förderung, Auszahlung, Wechsel
Ye general jaankari hai, financial advice nahi. This page is general information, not financial, tax or legal advice. Final rules are in the published law; individual offers may differ. Check the official text or a qualified, independent adviser before signing.