The 10 most common mistakes with the Altersvorsorgedepot
The new Altersvorsorgedepot from 2027 makes private retirement provision simpler and more flexible. But the typical pitfalls from the Riester world remain, and some new ones are added. These 10 mistakes cost savers money most often:
Table of contents
- Accepting an excessive reduction in yield
- Choosing a contribution guarantee out of fear
- Missing the minimum contribution
- Forgetting the standing allowance application
- Wrong ETF selection
- Cancelling early
- Contribution too low
- Leaving the tax leverage unused
- Choosing a poor provider out of convenience
- Stopping the savings plan during crashes
- Frequently asked questions
1. Accepting an excessive reduction in yield
The most expensive mistake of all. 1% less Reduction in yield per year adds up over 30 years to 20–30% more final balance, often thousands of euros of difference. Look at the product information sheet and compare. An ETF default standard product is typically 0.3–0.5%, an insurance product 1.0–1.5%.
2. Choosing a contribution guarantee out of fear
Over a term of 30+ years, a 100%contribution guarantee historically costs several tens of thousands of euros in return. Unless retirement is imminent, you should work with a 0% or at most 80% guarantee and instead invest broadly in equity ETFs.
What do typical mistakes really cost?
The most common mistakes end up costing savers five-figure sums. If you know them, you can avoid them.
3. Missing the minimum contribution
If you fall below the minimum base contribution of €120 a year, you lose all of the state allowances, including the child allowance. Even on a tight budget, the minimum amount is always worth paying in order to secure the basic and child allowances.
4. Forgetting the standing allowance application
Without a signed standing allowance application, the provider does not collect the allowance from the ZfA. Some savers lose money for years this way. When signing the contract, make sure you sign this form at the same time.
5. Wrong ETF selection
Thematic, sector or country ETFs (cannabis, AI, India, etc.) as your main investment are a risk to returns. In the Altersvorsorgedepot, core capital belongs in broadly diversified world ETFs: MSCI World, FTSE All-World or MSCI ACWI with a TER below 0.25%.
6. Cancelling early
Cancelling before the age of 65 counts as a non-qualifying withdrawal: all allowances and tax advantages have to be paid back. That can cost several thousand euros. If you need cash, it is better to pause the savings plan and let the securities account sit idle.
7. Contribution too low
If you pay in €50 a month, you do not get the full basic allowance of €540. For the maximum state subsidy you need €150 a month (€1,800 a year). With several children, even €25 a month can be very lucrative.
8. Leaving the tax leverage unused
If your marginal tax rate is above 30%, you often benefit more from the special expenses deduction than from the allowance. The tax office checks this automatically (more-favourable-treatment check), but you have to enter the contributions in Annex AV of your tax return, otherwise the benefit is lost.
9. Choosing a poor provider out of convenience
Your own house bank is not automatically the best choice. Compare the products of several providers (see the provider comparison). Switching later is possible, but costs up to €150 and takes time.
10. Stopping the savings plan during crashes
The biggest cost averaging benefit arises in crash phases, when you buy cheaply. If you stop or sell during a crisis, you destroy that effect. Rule: with the Altersvorsorgedepot, never pause or sell because of market turbulence.
Frequently asked questions about Altersvorsorgedepot mistakes
How do I tell that my securities account is too expensive?
A reduction in yield above 1.2% p.a. is a warning sign. By law the default standard product may charge only 1.0%; premium products should cost no more than 1.3–1.5%.
How much does switching cost me?
In the first 5 years a switching fee of at most €150. After that, by law, nothing at all.
Can I rescue money at short notice after a crash?
No, that would be a non-qualifying withdrawal. Better: pause the savings plan and wait for the recovery.
What if I accidentally fail to apply for the allowance?
You can apply retroactively for up to 2 years. After that the allowance is lost.
What happens if I overpay?
Amounts above €1,800 are neither eligible for allowances nor deductible. You can still pay them in up to the annual cap of €6,840; they then grow in the securities account without ongoing taxation. Beyond €6,840, nothing more goes into the subsidized pot.
What should I check before signing any contract?
Three questions before signing any contract: What reduction in yield? What guarantee? What ETF selection?
Last updated: June 2026.
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