Inheritance of the Altersvorsorgedepot: what heirs receive
The Altersvorsorgedepot is different from the Rürup pension inherited. If the saver dies before or during the decumulation phase, the remaining capital passes to the heirs. Knowing exactly when allowances are reclaimed and when they are not is the decisive information.
Why the Altersvorsorgedepot can be inherited
Legally, the Altersvorsorgedepot is a securities account with a special subsidy. The securities in the account are the saver’s property and pass into the estate like any other assets. The provider has no claim of its own on the capital, quite unlike classic insurance solutions.
An important advantage of the Altersvorsorgedepot over Riester (limited inheritability) and Rürup (barely inheritable, only through a survivor’s pension).
Inheritance before the start of retirement
If the saver dies before the start of retirement, there are three options for the heirs:
- Transfer into the spouse’s own Altersvorsorgedepot. Fully qualifying. The allowances are retained and continue in the inheriting spouse’s account. Requirement: an existing marriage.
- Transfer to the children. Only possible if the child is itself eligible for the subsidy (that is, around 18+ and has already made initial contributions). Rarely relevant.
- Full capital payout. Possible, but: the government allowances and tax advantages have to be repaid on a pro rata basis. This is called non-qualifying withdrawal.
Can my heirs take over the securities account?
Unlike with Rürup: the AVD is fully inheritable.
Inheritance during the decumulation phase
If the saver dies during the decumulation phase, it depends on the payout option chosen:
| Variant | What happens on death? |
|---|---|
| life annuity | The pension usually ends unless survivor’s protection was agreed. Remaining capital flows partly back to the insurer. |
| drawdown plan to age 85 | The remaining capital is inherited. The heirs can choose: continue the drawdown plan or take an immediate payout. |
| Partial lump-sum withdrawal (up to 30%) | Amounts already paid out are private assets and not relevant. The remaining account is treated as above. |
From an inheritance point of view, the drawdown plan to age 85 is clearly the more heir-friendly option. If you care about leaving remaining capital to your children, you should choose it.
Tax on the inherited capital
For an inheritance, the normal inheritance tax exemptions apply:
| Heir | Tax-free amount |
|---|---|
| Spouse | €500,000 |
| Children (per parent) | €400,000 |
| Grandchildren | €200,000 |
| Parents, siblings | €100,000 |
| Others | €20,000 |
Anyone exceeding the tax-free amount pays 7 to 30% inheritance tax on the excess (depending on the tax class). For most Altersvorsorgedepot holdings, the value is well below the tax-free amounts.
In addition, income tax may be due if the heirs withdraw the balance immediately; in that case deferred taxationapplies. If it is transferred into the account of an inheriting spouse, this does not apply for the time being.
Comparison with the Rürup pension
The Rürup pension is not inheritable. If the saver dies during the accumulation phase, the capital is usually lost (only an agreed survivor’s pension is paid out). If they die shortly after the start of retirement, the remaining capital is gone as well.
An important point for the self-employed choosing between the Altersvorsorgedepot and Rürup: anyone who places a high value on Inheritance should prefer the Altersvorsorgedepot. See Altersvorsorgedepot vs. Rürup.
Practical tips
- Check the beneficiary clause with your provider. Some providers allow a beneficiary to be named directly in the contract, which simplifies the succession.
- Keep your will up to date. Blended families or divorced spouses should set out clearly who is to receive the securities account.
- Choose the drawdown plan to age 85 if inheritance is what you want.
- Inform your provider about your family circumstances. In the event of inheritance, things move faster if the data is up to date.
- For large holdings, involve a tax adviser, above all for deaths just above the tax-free amount.
Frequently asked questions about inheritance
Do the allowances always have to be repaid?
No. Only with a full capital payout. If transferred to the spouse, they are retained.
What if there are no heirs?
Statutory succession applies. If no one inherits, the assets pass to the state (after a search for heirs).
Can stepchildren in blended families inherit too?
Yes, but only if they are named in a will. Otherwise statutory succession applies, which takes only biological and adopted children into account.
How quickly do heirs get access?
With a certificate of inheritance, usually within 6 to 12 weeks. It is faster with a notarized will or a power of attorney.
Do heirs also receive the child allowance?
No. Child allowances are tied to the saver and the child. They do, however, move into the securities account as part of the balance.
What about unmarried partners?
Without a will or a beneficiary clause they have no claim. If you want to provide for your partner, you should arrange it actively.
Are the tax advantages lost on inheritance?
No. If transferred to the spouse they continue. On payout, deferred taxation applies as with a normal pension.
What does that mean for tax?
Spouses can take over the securities account without any tax disadvantage; children receive the remaining capital as a payout.
Keep calculating and reading
Altersvorsorgedepot calculator Plus — calculate the subsidy, tax advantage and final balance for your own situation.
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