Altersvorsorgedepot

The Altersvorsorgedepot (Individual Retirement Savings Deposit Account) is a capital-backed pension framework passed in March 2026 and launching on January 1, 2027. It is designed to replace the outdated Riester-Rente for new contracts.

Unlike Riester, which legally required providers to guarantee 100% of nominal contributions (severely limiting returns by forcing investments into bonds), the Altersvorsorgedepot allows savers to invest in equity ETFs, stocks, and active mutual funds without mandatory capital guarantees. Growth is tax-free until withdrawal (deferred taxation), and contributions qualify for state subsidies and special expense deductions.

Real-World Example Lena, age 30, opens an Altersvorsorgedepot in 2027 and contributes €2,400 annually (€200/month) for 35 years until age 65. She invests in a diversified global equity ETF averaging 7% annual returns. Her total contributions of €84,000 grow to approximately €331,000 by retirement—€247,000 in tax-deferred investment gains. Under the old Riester system with its mandatory capital guarantee forcing 100% bond allocation (averaging 2.5% returns), her €84,000 would have grown to only €152,000. The Altersvorsorgedepot delivers €179,000 more retirement capital through equity exposure and elimination of the capital guarantee requirement.