The Altersvorsorgedepot

The modern form of subsidized retirement provision.

Overview

Retirement provision is changing

Retirement provision is changing fundamentally. The statutory pension remains the most important pillar, but for many people it has long since stopped being enough to maintain their accustomed standard of living in retirement. Traditional products have often disappointed, because low interest rates, high costs and strict guarantee requirements leave little room for return.

The Altersvorsorgedepot fills exactly that gap. It combines government support and tax relief with the earning potential of the capital markets. You shift your retirement saving towards ETFs and funds and still receive money from the state.

Whatever is left at the end of the month can go into a second, freely accessible ETF account. Your provision then rests on three pillars: the statutory pension, the Altersvorsorgedepot and a free ETF account. The two accounts do not compete — they complement each other.

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The basics

What is an Altersvorsorgedepot?

The Altersvorsorgedepot is a state-subsidized securities account for private retirement provision. From January 2027 it replaces the Riester pension. Investors use it to build wealth for retirement over the long term, investing in selected funds and ETFs.

Instead of a fixed balance guarantee, the focus is on long-term participation in the capital markets. A long investment horizon makes fluctuations easier to absorb and higher return potential easier to use.

Government support + Your own contributions + Capital market return → Altersvorsorgedepot → Additional retirement provision

Plus points

The benefits at a glance

Government support

Allowances and tax relief increase the amount invested and speed up the build-up.

Higher return potential

Long-term participation in international capital markets through ETFs and funds.

Transparency

You can see at any time what you are invested in and how your assets are developing.

Low costs

ETF strategies are often considerably cheaper than traditional insurance products. Comparable via the reduction in yield.

Long-term discipline

Being tied in until retirement age protects you from short-term mistakes.

Inheritable

Assets you do not use up are preserved and can be passed on to a spouse or children.
Investing

Which asset classes are possible?

The account is built for long-term wealth accumulation. That means broadly diversified, regulated investments above all — and on cost grounds ETFs first and foremost, which give you access to the following asset classes:

  • Equities
    Shares in companies, giving you a stake in capital gains and dividends — high return potential, but corresponding market fluctuations (higher risk).
  • Bonds
    Fixed-income debt issued by governments or companies, paying regular interest and repaying the nominal value (lower risk).
  • Real estate
    Investments in buildings and land, combining stable rental income with long-term growth in value (medium risk).
  • Money market
    Short-term, liquid instruments — very safe, but with modest return expectations (very low risk).
  • Precious metals & commodities
    Physical goods such as gold, silver or oil, regarded as inflation protection and a buffer in a crisis (medium risk).
  • Cryptocurrencies
    Digital, decentralized assets such as Bitcoin, combining enormous growth potential with extreme volatility and regulatory uncertainty (very high risk).
Strategy

Get more out of it with the right strategy

An Altersvorsorgedepot only shows its strength with the right strategy. Use the government subsidy to the full first, stay invested through the accumulation phase, and combine the account with a free ETF account — and you will get considerably more out of it over the years.

The key principles, the recommended hybrid strategy and a fully worked example are on the page Strategies for the Altersvorsorgedepot.

more on strategy
Subsidy & return

How subsidy and return work together

The real advantage comes from subsidy and capital market return working together. The subsidy puts extra capital into the account right at the start; the return grows it over the years. Often more money is already working for you in the first year than you paid in yourself. How much could add up over your term is shown directly in the calculator.

more on the subsidy

Ihr Depot-Wert

Monatliche Sparrate iIhr eigener Beitrag pro Monat. Bis 150 €/Mo bekommen Sie zusätzlich die volle Grundzulage von 540 €/Jahr ins Depot. 150 €
25 €500 €
Laufzeit iÜber wie viele Jahre Sie sparen. Üblich: Zeit bis zum Rentenbeginn mit 67. 30 Jahre
1 Jahr49 Jahre
Depot-Wert nach 30 Jahren
–
Modellrechnung: 5,5 % p.a. Rendite, 0,5 % Kosten, Grundzulage inklusive.
Erweiterte Berechnung Mit Einkommen, Rendite, Kosten, Inflation, Riester-Übertrag, ETF-Vergleich Auf die Warteliste Erfahren Sie als Erste:r, welche Anbieter starten

Unverbindliche Modellrechnung, keine Anlageberatung, keine Garantie künftiger Wertentwicklung. Vergangene Wertentwicklungen sind kein verlässlicher Indikator für künftige Wertentwicklungen.

Weighing it up

Opportunities and risks

Opportunities

  • Higher long-term return expectation
    Over the long term the capital markets can deliver higher returns than many traditional retirement products.
  • Broad diversification
    With ETFs you hold a stake in thousands of companies worldwide.
  • Government support
    Allowances and tax relief make building wealth more efficient.
  • Transparency
    You keep an overview of your investments at all times.

Risks and limits

  • Swings in value
    Capital markets fluctuate in the short term. Interim losses are possible.
  • Capital tied up
    The assets are for retirement and are only available to a limited extent before then.
  • Political conditions
    Subsidies and statutory rules can change over time.
  • No guaranteed return
    Performance depends on the capital markets and cannot be guaranteed.
FAQ

Frequently asked questions

A state-subsidized securities account for private retirement provision, which from 2027 replaces the Riester pension. The full overview is on the page Altersvorsorgedepot.

On 1 January 2027. The basis is the Retirement Provision Reform Act. From then on no new Riester contracts are possible.

Existing contracts continue and allowances already received are kept. Whether switching is worthwhile is covered in the overview of the Riester pension.

Mainly in ETFs and funds, broadly diversified across many countries and sectors.

A contribution guarantee secures 80% or 100% of what you pay in. But more security costs return, because the money is then invested more cautiously. Anyone with many years ahead of them can usually do without a guarantee.