{"id":1779292566,"date":"2026-06-30T09:09:15","date_gmt":"2026-06-30T09:09:15","guid":{"rendered":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/uncategorized-en-us\/life-annuity-in-the-altersvorsorgedepot-a-guaranteed-pension-for-life\/"},"modified":"2026-09-24T10:54:01","modified_gmt":"2026-09-24T10:54:01","slug":"life-annuity-in-the-altersvorsorgedepot-a-guaranteed-pension-for-life","status":"publish","type":"post","link":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/life-annuity-in-the-altersvorsorgedepot-a-guaranteed-pension-for-life\/","title":{"rendered":"Life annuity in the Altersvorsorgedepot: a guaranteed pension for life"},"content":{"rendered":"<p class=\"avd-lead\"> The life annuity is one of the two central payout options in the <a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/altersvorsorgedepot\/\">Altersvorsorgedepot<\/a>. The provider pays you <strong>a guaranteed monthly pension until death<\/strong>. You carry no longevity risk, but you also do not know whether you will use up the capital you paid in. <\/p>\n<aside class=\"avd-callout tldr\">\n<p><strong>The key points at a glance:<\/strong><\/p>\n<ul>\n<li>Lifelong monthly pension payment<\/li>\n<li>The amount follows from the annuity factor<\/li>\n<li>Keeps paying after your 85th birthday<\/li>\n<li>Not inheritable, except with survivor protection<\/li>\n<li>Mandatory option in the default standard product<\/li>\n<\/ul>\n<\/aside>\n<div class=\"avd-toc\">\n<p class=\"avd-toc__title\">Table of contents<\/p>\n<ol>\n<li><a href=\"\/#was-ist\">What is the life annuity?<\/a><\/li>\n<li><a href=\"\/#wie-funktioniert\">How does the life annuity work?<\/a><\/li>\n<li><a href=\"\/#rentenfaktor\">Annuity factor: what does it mean?<\/a><\/li>\n<li><a href=\"\/#wann\">When is a life annuity worth it?<\/a><\/li>\n<li><a href=\"\/#alternative\">Life annuity vs. drawdown plan to age 85<\/a><\/li>\n<li><a href=\"\/#faq\">Frequently asked questions<\/a><\/li>\n<\/ol>\n<\/div>\n<section id=\"was-ist\">\n<h2>What is a life annuity?<\/h2>\n<p> A life annuity is an <strong>insurance product in payout mode<\/strong>: you hand your account balance to the provider and in return receive an agreed monthly pension for life, whether you reach 70 or 100. <\/p>\n<\/section>\n<section id=\"wie-funktioniert\">\n<h2>How does the life annuity work?<\/h2>\n<ol>\n<li>At the start of retirement (from 65 at the earliest) you convert your account balance into a life annuity.<\/li>\n<li>Optional: you take up to 30% as a lump sum.<\/li>\n<li>The provider converts the remaining capital using the <strong>Annuity factor<\/strong> into a monthly payment.<\/li>\n<li>This pension is paid for life.<\/li>\n<\/ol>\n<\/section>\n<div class=\"avd-callout zwischenfazit\">\n<p><strong>What does the life annuity offer?<\/strong><br \/>The life annuity offers predictable security, but little flexibility and no inheritance.<\/p>\n<\/div>\n<section id=\"rentenfaktor\">\n<h2>Annuity factor: what does it mean?<\/h2>\n<p> The annuity factor states <strong>how many euros of monthly pension you get per \u20ac10,000 of capital<\/strong>. Examples: <\/p>\n<table class=\"avd-table\">\n<thead>\n<tr>\n<th>Annuity factor<\/th>\n<th>Capital<\/th>\n<th>Monthly pension<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u20ac25<\/td>\n<td>\u20ac100,000<\/td>\n<td>\u20ac250<\/td>\n<\/tr>\n<tr>\n<td>\u20ac30<\/td>\n<td>\u20ac100,000<\/td>\n<td>\u20ac300<\/td>\n<\/tr>\n<tr>\n<td>\u20ac35<\/td>\n<td>\u20ac100,000<\/td>\n<td>\u20ac350<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p> Providers may partly adjust the annuity factor during the decumulation phase, but must communicate this transparently. Watch out for <strong>guaranteed vs. projected annuity factors<\/strong>. <\/p>\n<\/section>\n<section id=\"wann\">\n<h2>When is a life annuity worth it?<\/h2>\n<p> If you reach a <strong>high age<\/strong> . At 95, for example, a monthly pension of \u20ac250 starting at 67 would already have paid out around \u20ac84,000. Anyone who dies earlier receives less than they paid in, unless there is a guaranteed annuity period that cushions the risk for survivors. <\/p>\n<\/section>\n<section id=\"alternative\">\n<h2>Life annuity vs. drawdown plan to age 85<\/h2>\n<table class=\"avd-table\">\n<thead>\n<tr>\n<th>Criterion<\/th>\n<th>life annuity<\/th>\n<th>drawdown plan to age 85<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Duration<\/td>\n<td>for life<\/td>\n<td>at least until 85<\/td>\n<\/tr>\n<tr>\n<td>Amount<\/td>\n<td>fixed, guaranteed<\/td>\n<td>variable, possibly higher<\/td>\n<\/tr>\n<tr>\n<td>Inheritance of remaining capital<\/td>\n<td>only with a guarantee period<\/td>\n<td>yes, always<\/td>\n<\/tr>\n<tr>\n<td>Longevity protection<\/td>\n<td>full<\/td>\n<td>limited<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/section>\n<section id=\"personas\">\n<h2>Real-life examples of the life annuity<\/h2>\n<div class=\"avd-persona\">\n<p><strong>Heinz, 67, account value \u20ac120,000, annuity factor \u20ac28.<\/strong> Life annuity: <strong>\u20ac336 per month<\/strong>, guaranteed for life. If he dies after 5 years with a 10-year guarantee period, his widow receives the pension for another 5 years.<\/p>\n<\/div>\n<div class=\"avd-persona\">\n<p><strong>Andrea, 67, account value \u20ac200,000, wants to leave remaining capital to her heirs.<\/strong> Instead of a life annuity she chooses the <a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/drawdown-plan-to-age-85-the-flexible-alternative-to-a-life-annuity\/\">drawdown plan to age 85<\/a>: about \u20ac925\/month, with any remaining capital going to her children on death.<\/p>\n<\/div>\n<\/section>\n<section class=\"avd-faq\" id=\"faq\">\n<h2>Frequently asked questions about the life annuity<\/h2>\n<details>\n<summary>What is a guaranteed annuity period?<\/summary>\n<p>A period (usually 10 or 20 years) during which the pension continues to be paid to survivors if you die early. The pension is somewhat lower as a result.<\/p>\n<\/details>\n<details>\n<summary>Can I cancel the life annuity?<\/summary>\n<p>No. Once the pension is being paid, it is irrevocable. If you want flexibility, you should choose the <a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/drawdown-plan-to-age-85-the-flexible-alternative-to-a-life-annuity\/\" data-wpil-monitor-id=\"11\">drawdown plan<\/a> instead.<\/p>\n<\/details>\n<details>\n<summary>Does the pension increase every year?<\/summary>\n<p>Only if a dynamic component has been agreed. The classic form is a fixed pension; some providers offer profit participation.<\/p>\n<\/details>\n<details>\n<summary>Can the annuity factor still fall during the decumulation phase?<\/summary>\n<p>Yes, if it is only &#8220;projected&#8221; and not &#8220;guaranteed&#8221;. Guaranteed annuity factors stay fixed.<\/p>\n<\/details>\n<details>\n<summary>Will my spouse continue to receive a pension after my death?<\/summary>\n<p>Only with an agreed guaranteed annuity period or a survivor&#8217;s pension option.<\/p>\n<\/details>\n<details>\n<summary>How does inflation affect the life annuity?<\/summary>\n<p>Classic life annuities are nominal, so purchasing power falls. Some providers offer dynamic life annuities with adjustments.<\/p>\n<\/details>\n<\/section>\n<div class=\"avd-callout zwischenfazit\">\n<p><strong>Who is it suitable for?<\/strong><br \/>If you prefer a guaranteed lifelong pension, the life annuity is a good choice.<\/p>\n<\/div>\n<p class=\"small muted\">Last updated: June 2026.<\/p>\n<section class=\"avd-weiter\">\n<h2>Keep calculating and reading<\/h2>\n<p class=\"avd-weiter__rechner\"><strong><a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/pension-gap-calculator\/\">pension gap calculator<\/a><\/strong> \u2014 estimate the gap between your final net income and the statutory pension.<\/p>\n<ul class=\"avd-weiter__links\">\n<li><a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/drawdown-plan-to-age-85-the-flexible-alternative-to-a-life-annuity\/\">drawdown plan to age 85<\/a><\/li>\n<li><a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/inheritance-of-the-altersvorsorgedepot-what-heirs-receive\/\">Inheritance<\/a><\/li>\n<li><a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/inflation-and-purchasing-power-what-your-securities-account-will-really-be-worth-in-30-years\/\">Inflation and purchasing power<\/a><\/li>\n<\/ul>\n<p class=\"avd-weiter__zielgruppe\">Related content: <a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/altersvorsorgedepot-from-50\/\">Altersvorsorgedepot from 50<\/a>.<\/p>\n<p class=\"avd-weiter__lexikon\">All terms at a glance: <a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/altersvorsorgedepot-glossary-all-terms-from-a-to-z\/\">Glossary from A to Z<\/a>.<\/p>\n<\/section>\n<section class=\"avd-sources\">\n<h2>Official sources and further information<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.bundesfinanzministerium.de\/Content\/DE\/FAQ\/reform-der-privaten-altersvorsorge.html\" rel=\"external nofollow\" target=\"_blank\">Federal Ministry of Finance, FAQ on the reform of private retirement provision<\/a><\/li>\n<li><a href=\"https:\/\/www.bundesregierung.de\/breg-de\/aktuelles\/reform-private-altersvorsorge-2400072\" rel=\"external nofollow\" target=\"_blank\">German federal government, private retirement provision reform<\/a><\/li>\n<li><a href=\"https:\/\/www.bundestag.de\/dokumente\/textarchiv\/2026\/kw13-de-altersvorsorge-1156798\" rel=\"external nofollow\" target=\"_blank\">German Bundestag, resolution on the Altersvorsorgedepot (calendar week 13\/2026)<\/a><\/li>\n<li><a href=\"https:\/\/dserver.bundestag.de\/btd\/21\/040\/2104088.pdf\" rel=\"external nofollow\" target=\"_blank\">Bundestag printed paper 21\/4088 (PDF)<\/a><\/li>\n<li><a href=\"https:\/\/www.deutsche-rentenversicherung.de\/DRV\/DE\/Ueber-uns-und-Presse\/Presse\/Meldungen\/2026\/260508-bundesrat-reform-private-altersvorsorge.html\" rel=\"external nofollow\" target=\"_blank\">Deutsche Rentenversicherung, reform announcement<\/a><\/li>\n<li><a href=\"https:\/\/www.test.de\/Altersvorsorgedepot-4910361-0\/\" rel=\"external nofollow\" target=\"_blank\">Stiftung Warentest, Altersvorsorgedepot<\/a><\/li>\n<li><a href=\"https:\/\/www.verbraucherzentrale.de\/wissen\/geld-versicherungen\/altersvorsorge\/neues-altersvorsorgedepot-rentenchance-oder-teure-verkaufsfalle-118178\" rel=\"external nofollow\" target=\"_blank\">Verbraucherzentrale, the new Altersvorsorgedepot: opportunity or sales trap?<\/a><\/li>\n<\/ul>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Life annuity in the Altersvorsorgedepot: how the lifelong pension payment works, what the annuity factor tells you and when a life annuity is worth it.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_metasync_otto_title":"","_metasync_otto_description":"","_metasync_otto_keywords":"","_metasync_otto_og_title":"","_metasync_otto_og_description":"","_metasync_otto_twitter_title":"","_metasync_otto_twitter_description":"","rank_math_title":"","rank_math_description":"","_yoast_wpseo_title":"","_yoast_wpseo_metadesc":"","_aioseo_title":"","_aioseo_description":"","_metasync_seo_title":"","_metasync_seo_desc":"","_metasync_breadcrumb_title":"","_metasync_primary_category":0,"_metasync_primary_product_cat":0,"_metasync_otto_disabled":"","_metasync_hreflang":"","_metasync_plugin_sync_ts":"","_metasync_robots_advanced":"","footnotes":""},"categories":[68],"tags":[69,70,79,81],"class_list":["post-1779292566","post","type-post","status-publish","format-standard","hentry","category-what-is","tag-altersvorsorgedepot","tag-contribution-guarantee","tag-deferred-taxation","tag-drawdown-plan-to-age-85"],"_links":{"self":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/posts\/1779292566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/comments?post=1779292566"}],"version-history":[{"count":0,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/posts\/1779292566\/revisions"}],"wp:attachment":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/media?parent=1779292566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/categories?post=1779292566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/tags?post=1779292566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}