The successor to the Riester pension is here: a state-subsidized ETF account you control yourself, worth up to €1,680 a year to families claiming the full subsidy. Compare every provider here and work out what it is worth to you.
Reviewed by Rolf Henning Hackel, lawyer & financial market expert
Who will actually offer an Altersvorsorgedepot from 2027 is tracked in the Anbieter-Monitor. 55 von 74 of the providers checked have committed; none is certified yet. You cannot sign up yet. We check every working day for movement and verify each entry against the provider’s own website, with the date beside it. On costs and ETF selection the differences will be wide.
The Altersvorsorgedepot replaces the Riester pension in 2027 — this time without the expensive 100% guarantee that cost Riester savers so much return. Your money is free to work in ETFs and funds, and the state adds allowances and tax relief on top.
The subsidy has never been higher. On your first €360 a year the state adds 50%, before the markets have earned you a single cent. Families can reach up to €1,680 a year.
The student, 22
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The engineer, 42
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The self-employed woman, 55
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How the development of ETF costs affects the return on your Altersvorsorgedepot
The Altersvorsorgedepot has barely been passed into law and the fight over costs is already underway. How expensive may subsidized retirement provision be? A sober assessment.
Lawyer & financial market expert · AVD Anbieter Vergleich · responsible for content
Every text on this site carries a name. Rolf Henning Hackel is a qualified lawyer who has spent more than twenty years at the intersection of financial technology and law. He helped build investment and wealth platforms in Germany’s tightly regulated market and knows the providers, their products and the small print at first hand. Here he turns that around: his knowledge works for savers looking for an independent assessment.
What is the Altersvorsorgedepot 2027?
The Altersvorsorgedepot (AVD) is a state-subsidized securities account that replaces the Riester pension in its current form from 1 January 2027. Savers can invest in ETFs, shares, funds and bonds and receive direct allowances from the state or a special expenses deduction on their tax return. Unlike Riester, there is no longer a compulsory 100% contribution guarantee, which opens up considerably higher return potential.
Exactly how much is the government subsidy?
The subsidy is proportional to what you pay in: a 50% allowance on the first €360 a year (= €180), then 25% on further contributions up to €1,800 (= another €360). That makes a maximum of €540 basic allowance per year. For each child eligible for child benefit there is another €300 child allowance on top. Anyone signing up before their 25th birthday receives a one-off €200 career starter bonus. A family with two children can therefore reach up to €1,680 a year in subsidy.
How much should I pay in each month?
For the maximum basic allowance of €540 you need to contribute €1,800 a year, which is €150 a month. The child allowance is paid in full from a minimum base contribution of €25 a month. Paying in more than €1,800 earns no additional allowance on the excess, but you can invest up to €6,840 in total in the subsidized account. Through a regular savings plan this can be set up to run entirely automatically.
Is the Altersvorsorgedepot safer than the Riester pension?
Safe and high-earning are two different things. Riester carried a 100% contribution guarantee that cost a great deal of return. The Altersvorsorgedepot leaves the choice to you: 0%, 80% or 100% contribution guarantee. Anyone with 20+ years ahead of them is usually better off with the higher-earning option (an ETFdefault standard product without a guarantee). Those who want more security take the 80% guarantee.