Altersvorsorgedepot monitor: more and more providers are getting ready, Scalable leads the way
Not a single Altersvorsorgedepot can be opened yet, but providers are moving into position. Scalable Capital is the first to name concrete terms, and they turn out to be surprisingly clear-cut. A good moment to take stock of the market before the first real products launch in January 2027. That is exactly what we run our provider monitor for.
The key points at a glance
- Scalable is the first provider to put numbers on the table. The standard securities account is to be free of charge, with ETF costs of no more than 0.15%.
- The statutory cost cap is 1% per year, so there is plenty of room below it.
- A switching service is intended to take the move off Riester savers’ hands.
- Many other providers have announced securities accounts, from Hansainvest to Vanguard.
- For now these are announcements. You can only sign up from 1 January 2027.
Scalable leads the way
Scalable Capital is making the first big move. “We are making the standard securities account free of charge,” says company head Erik Podzuweit. There are to be no costs for the account, the securities account, savings plans or purchases and sales. Savers only have to pay the fund fee, and Scalable intends to cap that at no more than 0.15% per year, and even at zero in the first year. The statutory cap for the standard securities account is one percent, so Scalable would stay well below it.
Scalable has Riester savers particularly in its sights. Around 14.7 million such contracts still exist, holding an estimated €240 billion. The company is planning a switching service for the move. Customers are only to state their previous provider, the product and the contract number; the provider and the allowance office sort out the rest between them.
Who else is standing ready
Scalable is not alone; the field is filling up fast. Fund platform Hansainvest is building a solution for partners together with Investify Tech and Baader Bank. Universal Investment has entered into a cooperation, as has Deutsche Wertpapiertreuhand. Franklin Templeton is developing on several fronts at once, together with the app Finanzguru and with Morgenfund. And the platform Growney is bringing a white-label solution with Vanguard that lets brokers and intermediaries offer the securities account to their customers. The list is likely to grow further over the coming months.
Our provider monitor keeps track
This is exactly where our provider monitor comes in. There we continuously follow who is announcing which securities account and who launches when, and we record all the terms in a single place so that you do not have to search through ten news sites. The current status shows how quickly the field is filling up. The market is filling up fast. A large share of the providers we review have already committed to offering a securities account from 2027, yet none is certified, because without review by the Federal Central Tax Office no subsidy is paid. The exact, up-to-date figure is in the provider monitor. As soon as real products are available, the monitor shows you at a glance who offers what.
What makes our provider monitor special
Its particular strength lies in its independence: the monitor does not focus on individual providers but makes a neutral comparison possible and shows differences in offers and terms transparently. No provider can buy a better placement from us, a referral link changes nothing about the assessment, and we deliberately include providers from whom we earn nothing at all. On top of that comes a clear standard. Every securities account goes through the same ten criteria and receives a comprehensible overall grade, with total costs carrying the most weight, followed by ETF selection and flexibility. The basis is official product information and the statutory requirements. If a provider changes its terms, we follow suit.
What this means for you as a saver
The good news is obvious. Competition pushes costs down, and in the end savers benefit. Even so, patience pays off. Anyone who still has a Riester contract should work through the switch calmly, because the remaining term, the costs and your own situation all play a part. And anyone starting out fresh should wait for the launch and then compare the real offers at leisure.
Conclusion
The battle over attractive prices for the Altersvorsorgedepot has begun. For consumers that is a welcome development. Scalable is setting a benchmark and others will follow. For savers this means one thing above all: at launch it will pay to look closely. That is precisely what we intend with the provider monitor.
Sources
- FONDS professionell, „Altersvorsorgedepot: Scalable macht Kampfansage“ (21 August 2026)
- Information on terms from Scalable Capital according to “Bild-Zeitung”
This article is for information purposes and is not investment advice. The terms mentioned are provider announcements, are not yet final and are without guarantee.
What is the provider monitor?
The provider monitor is our continuously maintained overview of all Altersvorsorgedepot providers. In a single place we record who is announcing a securities account, who launches when and on what terms, so that you do not have to gather the reports yourself. One look is enough.
Which providers are coming in 2027?
We deliberately do not give a fixed figure here, because it quickly becomes outdated. Instead, we maintain the up-to-date status in the provider monitorwhich shows you at a glance who has already committed and who is still missing. Most are standing ready. But you cannot sign up yet, and so far none is certified.
What criteria does the monitor assess by?
By ten fixed criteria. Total costs carry the most weight, followed by ETF selection and flexibility, because they shape long-term success the most. Each one feeds into an overall grade with a score, based on official information and the statutory requirements.
Is the assessment really independent?
Yes. No provider can buy a better placement from us, and a referral link changes nothing about the grade. We even include providers from whom we earn nothing.
How many providers does the monitor already cover?
At the end of August 2026, 28 of the 35 providers reviewed had committed to offering a securities account from 2027. That is 80%. Even so, none can be opened yet, because without certification by the Federal Central Tax Office there is no subsidy. We follow up as soon as anything moves.
Jurist & Finanzmarktexperte · AVD Anbieter Vergleich
Rolf Henning Hackel ist Diplom-Jurist und seit über 22 Jahren als Vorstand und Geschäftsführer für unterschiedliche Softwaredienstleister der Finanzbranche sowie als Unternehmensgründer tätig. Als absoluter Marktexperte kennt er nicht nur die verschiedenen Anbieter, sondern auch die Produkte der Finanzindustrie mit ihren Stärken und Schwächen sowie deren regulatorischen Rahmen. Beim AVD Anbieter Vergleich schreibt er über das neue Altersvorsorgedepot und erklärt Förderung, Anbieter und Renditechancen in verständlichen Worten – unabhängig und werbefrei.
