The German government has approved the Altersvorsorgedepot as the new framework for state-supported retirement savings. From January 2027 self-employed people and civil servants will also be eligible. The Riester pension scheme ends at the close of this year.
The Altersvorsorgedepot has now been officially approved. It replaces the Riester pension, which ends on 31 December 2026. From January 2027 state support will be available not only to employees but also to self-employed people and civil servants.
Experts expect providers to launch intensive marketing efforts. Niels Nauhauser of the Verbraucherzentrale Baden-Württemberg anticipates that high earners in particular will receive offers. Banks and financial services firms are likely to highlight tax advantages to attract customers.
Those who contribute more than the maximum subsidised amount benefit from lower tax rates in retirement. Nauhauser advises interested parties to familiarise themselves with the different models early. Many banks will actively raise the topic in the coming weeks.
