Altersvorsorgedepot

The Altersvorsorgedepot is a new form of state-subsidised private pension provision in Germany. It was introduced by the pension reform act and is set to be offered from 1 January 2027 by providers of certified retirement contracts.

Unlike classic Riester products, guarantees can be waived. This enables a more return-oriented investment, for example via funds and ETFs. However, not just any investment qualifies. Only products that meet the statutory requirements and are certified.

For new contracts from 2027 the new product world replaces the previous Riester system. Existing Riester contracts remain protected, however, and can generally be continued. Liechtenstein Life is preparing an Altersvorsorgedepot for launch from 2027.

The Altersvorsorgedepot mainly suits people who save for retirement over the long term and want to use the return potential of funds and ETFs. The longer the period until retirement, the more capital-market growth and compounding can work in your favour, and the easier it is to ride out interim fluctuations.

It is especially relevant for many self-employed, who unlike with Riester are directly eligible for the first time, for families with children (child allowance) and for career starters under 25 (one-off bonus). Anyone who already holds a Riester contract and wants to switch into a more return-oriented framework can also benefit. If you value flexibility, you can choose between a lifelong annuity and a payout plan, with up to 30 % as a lump sum at the start of the payout phase.

People who have only a few years left until retirement should check carefully, because there is then little time to ride out price fluctuations. Whether the Altersvorsorgedepot is worthwhile in your situation is shown by the subsidy calculator.

On the first €360 of own contributions per year there is a base allowance of 50%. On further contributions up to a total of €1,800 per year there is a 25% allowance. This gives a maximum base allowance of €540 per year.

For children there can additionally be a child allowance: 100% of contributions up to €300 per child and year, provided child benefit is granted for the child. Anyone who signs the contract before their 25th birthday also receives a one-off €200 career-starter bonus.

In the payout phase, subsidised benefits are taxed on a deferred basis at your individual rate. How much adds up in your situation is shown by the subsidy calculator.

Yes, the circle of eligible people is being widened. In future, many self-employed people are also directly eligible, in particular self-employed individuals with income under § 15 EStG or § 18 (1) nos. 1–3 EStG who have filed a tax return. Compulsory members of professional pension schemes are also included.

So the statement "the self-employed are eligible" should not be taken too broadly: many self-employed people become directly eligible for the first time, but actual eligibility depends on the type of income and personal circumstances. For higher, tax-deductible contributions, the Basisrente (Rürup) can be a complementary option.

As subsidised retirement provision, the Altersvorsorgedepot is earmarked. In principle the benefits are meant to flow only in the payout phase, as a retirement benefit or via a long-running payout plan.

The earliest possible start of the payout phase is generally on reaching age 65. An earlier start may be possible in certain legally defined cases, for example if a statutory pension or comparable provision is already being paid before 65.

Early withdrawals are subsidy-neutral only in certain cases, e.g. via home-ownership pension support, a partial lump-sum payout of up to 30% at the start of the payout phase, or the commutation of a small pension. If subsidised assets are used outside the permitted rules, this is a harmful use. The allowances and any tax benefits attributable to it must then be repaid. If you want to keep part flexibly available, combine the subsidised depot with a further solution such as Liechtenstein Life Invest.

The German Bundestag passed the private pension reform on 27 March 2026. According to the Federal Ministry of Finance, saving can begin from 1 January 2027.

The key rules of the reform are set by law. We are preparing our offering; you can join the waitlist today.

The Altersvorsorgedepot is the subsidised foundation. Its full effect comes in combination with our other solutions, at Liechtenstein Life from a single source. This offer is available in this form from us.

• Liechtenstein Life Invest builds wealth with no upper limit in funds and ETFs, flexibly available. The sensible add-on once you want to save beyond the subsidised €1,800/year, for the part the subsidised depot no longer covers.
• Liechtenstein Life Pension is the Basisrente (Rürup): higher contributions are tax-deductible. Ideal for the self-employed and high earners who want to save tax on top of the Altersvorsorgedepot.
• Liechtenstein Life Wealth transfers wealth tax-efficiently and plans your succession. The solution for when your provision is in place and it's about the next generation.

The value of your investment can go down as well as up. Which combination suits you is shown in the solutions.