The Altersvorsorgedepot is the German state subsidised successor to the Riester pension: a securities account without a mandatory guarantee, offered from 1 January 2027. The state adds up to EUR 540 a year plus EUR 300 per child. It is law, published in the Federal Law Gazette on 29 May 2026. Payouts start at 65 at the earliest.
Statutory figures from the Altersvorsorgereformgesetz and cost estimates from published studies, as of October 2026.
Example
Typical range
Maximum basic subsidy
EUR 540 a year with EUR 1,800 own contribution
Child subsidy
up to EUR 300 per child and year
Bonus if you sign before 25
EUR 200 once
Contributions per year
EUR 120 to 6,840
Standard depot costs
at most 1 percent a year
Guarantee products, consumer centre estimate
about 1.5 to 2.5 percent a year
Switching provider within five years
up to EUR 150
Subsidies, limits and the cost cap are set by law.
Costs of guarantee products are an estimate by the consumer centre;
providers set their terms with certification.
The projection in the example is our own calculation without any guarantee.
Worked example
Employee, 30, one child, saves EUR 150 a month
How much the state adds and how the depot could grow by 65. Projected without the child subsidy, which does not run for the whole term.
Own contribution per year
EUR 1,800
Basic subsidy
EUR 540
Child subsidy, only for part of the term
EUR 300
35 years at EUR 2,340, 3 percent after costs
about EUR 141,000
35 years at EUR 2,340, 5 percent after costs
about EUR 211,000
EUR 63,000 of own contributions could grow to about EUR 141,000 to 211,000, plus the child subsidies. This is before tax and inflation, and without a guarantee product nothing is guaranteed.
What has been decided
The Bundestag passed the pension reform law (Altersvorsorgereformgesetz) on 27 March 2026, and the Bundesrat approved it on 8 May 2026. It was signed on 26 May and published in the Federal Law Gazette (Bundesgesetzblatt) on 29 May 2026. The Altersvorsorgedepot is therefore law, with products starting on 1 January 2027.
From 2027 no new contracts on the old Riester model can be signed. Existing Riester contracts continue with their current subsidies, and switching to the Altersvorsorgedepot is voluntary.
How the Altersvorsorgedepot subsidy works
Unlike Riester, the subsidy no longer depends on your income but on what you pay in. You get 50 cents per euro on the first EUR 360 a year and 25 cents per euro on further contributions up to EUR 1,800. The basic subsidy is capped at EUR 540.
On top come up to EUR 300 per child, in full from EUR 25 a month. Signing before your 25th birthday brings a one off EUR 200 bonus. Employees are eligible, and now also the self employed, freelancers and business owners.
Your contribution per year
Basic subsidy
Subsidy rate
EUR 120
EUR 60
50 percent
EUR 360
EUR 180
50 percent
EUR 1,000
EUR 340
34 percent
EUR 1,800
EUR 540
30 percent
EUR 3,000
EUR 540
18 percent
Standard depot or open product
Every provider must offer a standard product with effective costs capped at 1 percent a year, invested more cautiously. Providers may also offer depots with a free choice of funds and guarantee products, which have no cost cap. For guarantee products consumer advocates quote 1.5 to 2.5 percent a year or more.
A standard depot run by a public body is also planned; the details were not settled in autumn 2026. At a 6 percent gross return, one extra percent of costs a year takes about a third of the final value over 40 years, so check the costs more closely than any advertising.
When and how you get the money
Payouts start at 65 at the earliest, or earlier if you already draw a German state pension, and must start by 70. You choose between a lifelong annuity and a drawdown plan (Auszahlplan) that runs at least until 85.
With a drawdown plan, money not yet paid out can be inherited, but the depot is empty after the last instalment. Payouts from the subsidised contract are taxed in full at your personal income tax rate, while returns are tax free during the saving phase.
Who it suits, and who it does not
It suits you if you save for decades, will not need the money before 65 and benefit from high subsidy rates: small contributions, children, or starting your career. With EUR 30 a month you get a 50 percent subsidy.
It suits you less if you want access at any time. Cancelling without moving to another certified contract costs you the subsidies and tax benefits. If you plan to leave Germany for good, ask about the rules before signing, because the subsidy is tied to German law.
What to do before January 2027
Do not sign anything under pressure before the start. Providers need certification first, and only then can you compare offers. Compare the standard product with open versions, above all the effective costs.
If you have a Riester contract, you do not need to act. Check its costs and switching terms first. Changing provider is free after five years; before that, up to EUR 150 may be charged.
Step by step
Work out how much you can lock away until 65, at least EUR 10 a month.
Check the subsidy rate: 50 percent up to EUR 360 a year, 25 percent on the rest up to EUR 1,800.
From January 2027 compare certified offers, starting with the standard product.
Weigh effective costs, fund choice and guarantees.
Keep or switch an existing Riester contract only after checking its costs.
Checklist
Contract certified for the Altersvorsorgedepot
Effective costs known, at most 1 percent for the standard depot
Children registered for the child subsidy
Money can stay locked until 65, emergency fund kept elsewhere
EUR 200 bonus claimed if you are under 25
Common mistakes
Signing an advertised contract before the start that is not certified
Picking expensive premium versions without comparing the standard product
Paying in more than EUR 1,800 and expecting subsidies on all of it
Cancelling an old Riester contract instead of switching and losing the subsidies
Questions and answers
Frequently asked
Is the Altersvorsorgedepot already law?
Yes.
The law was published in the Federal Law Gazette on 29 May 2026.
Products start on 1 January 2027.
How much subsidy do I get?
50 percent on the first EUR 360, 25 percent on the part up to EUR 1,800, at most EUR 540,
plus up to EUR 300 per child.
Can I move my Riester savings?
Yes, voluntarily.
Otherwise existing contracts continue unchanged.
Check costs and switching terms first.
Is there a guarantee?
The standard depot has no guarantee.
Providers may offer guarantee products, but these usually cost return.
Can the self employed join?
Yes.
The self employed, freelancers and business owners are now eligible as well.
What if I leave Germany later?
The subsidy follows German rules.
Ask the provider and the central subsidy office (Zulagenstelle) before signing what happens if you
