Altersvorsorgedepot (Germany’s state-subsidized retirement investment account) vs. Rürup pension: what makes sense for the self-employed?
From 2027 the self-employed can choose between two state-subsidized retirement products: the new Altersvorsorgedepot or the established Rürup pension (Basisrente). Which option suits which way of life?
Table of contents
What is the difference?
Both products follow the principle of deferred taxation. However, they differ fundamentally in the level of subsidy, the payout form and inheritability. The Altersvorsorgedepot is flexible and can be inheritedwhile the Rürup pension offers higher tax advantagesbut is more rigid.
Comparison table
| Feature | Altersvorsorgedepot | Rürup pension |
|---|---|---|
| Eligible for the subsidy | everyone, incl. the self-employed | mainly the self-employed |
| Maximum contribution (subsidized pot) | €1,800 own contribution + €540 allowance | ~€29,344 (2026, single), ~€58,688 (married couples) |
| Allowances (cash) | basic allowance + child allowance | no direct allowances |
| Tax-deductible | €1,800 plus allowance entitlement, €2,340 without children | 100% of contributions up to the ceiling |
| Investing | ETFs, funds, bonds | unit-linked policy or classic |
| contribution guarantee | optional | often 100% |
| payout | life annuity or drawdown plan up to 85 | life annuity mandatory |
| Inheritable | yes | not directly, only a survivor pension |
| Can be used as collateral | not permitted | no |
| Protection from seizure | yes (accumulation phase) | yes |
What is the main difference?
AVD means flexibility, inheritability and allowances. Rürup brings higher tax advantages at a high income.
When does the Altersvorsorgedepot fit?
- You earn up to ~€70,000 per year.
- You want Flexibility in the decumulation phase (drawdown plan up to 85).
- You have Children and want to claim the child allowance.
- You want the remaining capital to be inheritable.
- You are under 25 years old and want the career starter bonus.
When does the Rürup pension fit?
- You earn well over €70,000 in profit a year.
- You want to make use of the maximum tax advantage as far as possible.
- You have no problem with a pure life annuity.
- You do not need the Protection from seizurewhich is included in the AVD.
- High contributions / one-off payments are possible (lump-sum contributions make sense).
Combine both?
Yes, for self-employed people with a high income this is often even the best strategy:
- Altersvorsorgedepot up to €1,800 a year, securing the basic allowance and the tax deduction.
- Rürup pension as an additional, high-volume tax lever.
- Private ETF account for flexibility when you need capital in the short or medium term.
Which option gives you more? Compare the subsidy and the tax savings in the subsidy calculatorbefore you decide on a model.
Practical examples
Lena, 32, graphic designer, €55,000 profit. Recommendation: Altersvorsorgedepot only. The full basic allowance of €540 plus the tax savings beats the rigid Rürup insurance in her income bracket.
Dr. Marcus, 48, IT consultant, €180,000 profit. Recommendation: a combination. Altersvorsorgedepot for the basic subsidy plus €20,000 a year into Rürup for maximum tax savings. At his marginal tax rate he saves almost €8,000 in income tax per year.
The Schwarz family, both self-employed, 2 children. Recommendation: an Altersvorsorgedepot each (to collect the allowances). If the income is high enough, one of them adds Rürup.
Frequently asked questions about the comparison
Can I transfer Rürup into an Altersvorsorgedepot?
No. Rürup and the Altersvorsorgedepot are separate retirement pillars.
Can the Rürup pension be inherited?
Not directly. Only an optionally agreed survivor pension for spouses and children is possible.
Which tax rate applies?
Both products follow deferred taxation; payouts are taxed at your personal income tax rate in retirement.
Is Rürup with a guarantee worth it?
Usually not with long remaining terms, because the guarantee costs a lot of return. Without a guarantee the Rürup unit-linked policy becomes competitive much sooner.
What happens if I emigrate?
Within the EU/EEA both products remain in place. If you move to a third country, subsidy repayments or special tax rules can apply.
Can I shift Rürup contributions between years?
Yes, one-off payments can be used for tax purposes in the same year, which is good for years with a high profit.
Do I have to choose one?
For most self-employed people the optimal strategy is not “either/or” but a combination.
Last updated: June 2026.
Keep calculating and reading
Altersvorsorgedepot calculator Plus — calculate the subsidy, tax advantage and final balance for your own situation.
Related content: Altersvorsorgedepot for the self-employed.
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