Whether to open an Altersvorsorgedepot (the new subsidised retirement provision account) now or wait until 2027 looks like a question about timing. Legally, much of it is already settled, because the new subsidised contracts cannot be certified before the turn of the year. This guide explains what is possible before 1 January 2027, what waiting costs and when a contract under the old rules can still make sense.
Quick answer: You cannot open an Altersvorsorgedepot with the new subsidies in 2026. Under section 14(7) AltZertG (certification act), certification of such contracts can be granted no earlier than 1 January 2027, and contracts under the old law may no longer be sold after 31 December 2026. The real choice is a Riester contract in 2026 or the new depot from 2027. Last updated: November 2026.
Key points
- The Bundestag passed the Altersvorsorgereformgesetz (pension account reform act) on 27 March 2026, and the Bundesrat consented on 8 May 2026.
- New Altersvorsorgedepot contracts can be certified from 1 January 2027 at the earliest, so no product with the new subsidies exists before that date.
- The basic subsidy (Grundzulage) is up to 540 euros a year and requires 1,800 euros of your own contributions. From 2027 a minimum own contribution of 120 euros a year applies.
- If you still take out a Riester contract in 2026, the committee recommendation keeps the old rules for it, but you can irrevocably switch to the new rules.
- The subsidy depends on contributions in a given contribution year. Starting in spring 2027 rather than January mainly delays when contributions begin.
Can I open an Altersvorsorgedepot before 2027?
No, at least not with a claim to the new subsidies. The law is passed, but the new products need certification. According to the consolidated text of the AltZertG, certification for contracts based on the amendments can be granted no earlier than 1 January 2027 (section 14(7) sentence 3 AltZertG, version from 1 January 2027). The subsidy rules of section 84 of the Income Tax Act (EStG) in its new version also apply from 2027. A contract sold to you today as an Altersvorsorgedepot can therefore at most be an announcement or a contract under current law.
At the same time, the old contracts are being withdrawn. Contracts under the previous version of section 5 AltZertG may not be sold with effect from the end of 31 December 2026 (section 14(7) sentence 4). If you want to sign in 2026, only the classic Riester route remains, and that window closes at year end.
Do I lose subsidies if I wait until 2027?
There is no subsidy under the new law for 2026, whatever you decide. From 2027 the subsidy is based on the contributions of each contribution year. The German pension insurance (Deutsche Rentenversicherung) describes the calculation as proportional to contributions (page last updated 17 September 2026). The committee recommendation of the finance committee sets the scale: 50 percent on contributions up to 360 euros, 25 percent on contributions between 360.01 and 1,800 euros, plus a one-off 200 euros for people under 25 (Bundestag paper 21/4996, section 84 EStG).
A worked example shows what matters. Assumption: you pay 900 euros of your own contributions in 2027.
- The first 360 euros are subsidised at 50 percent, which is 180 euros.
- The remaining 540 euros are subsidised at 25 percent, which is 135 euros.
- The basic subsidy totals 315 euros. With 1,800 euros of contributions it would be 540 euros.
If you wait until spring 2027, these rates do not change. What counts is how much you actually pay in during the contribution year. Whether a provider allows you to pay the annual amount in fewer months is a matter of the contract terms. For the mechanics, see Altersvorsorgedepot Zulage berechnen (in German).
What speaks for a Riester contract in 2026?
A new contract under the old law is possible until year end and, on the current rules, not a dead end. Contracts concluded before 1 January 2027 keep the previous rules until the payout phase begins, and according to the committee recommendation the holder can irrevocably declare that the new rules apply to all of their contracts (section 52(50a) EStG, Bundestag paper 21/4996). Against this stand the lower basic subsidy of 175 euros a year under section 84 EStG in its current version and the commitment to a product the legislator is now replacing.
| Aspect | Riester contract in 2026 | Altersvorsorgedepot from 2027 |
|---|---|---|
| Legal basis | Previous version of section 5 AltZertG, sales end on 31 December 2026 | New version, certification from 1 January 2027 at the earliest |
| Basic subsidy | 175 euros a year (current law, as of November 2026) | Up to 540 euros a year with 1,800 euros own contribution |
| Minimum contribution | Minimum own contribution under previous law | 120 euros a year for any subsidy to be paid |
| Payout start without agreement | Age 62 for contracts from 2012 to 2026 | Age 65 for contracts after 31 December 2026 |
| Switching to the new rules | Irrevocable declaration possible | Not needed, applies from the start |
The table summarises the legal position and does not replace a check of the actual contract terms. Costs and guarantees of a Riester product differ considerably between providers.
When is waiting the more sensible choice?
Waiting does not mean doing nothing. If you aim for the new product, you can use the time until January to compare costs and to decide which product type fits your risk profile. The depot without guarantee, the guarantee product with 80 or 100 percent of paid-in contributions and the standard depot are different constructions. According to the pension insurance, a standard depot under public sponsorship is still open and may be available only after 1 January 2027.
| Your situation | Leans towards signing in 2026 (Riester) | Leans towards waiting for 2027 |
|---|---|---|
| You already have a Riester contract | No new contract needed, review the existing one | Check the option for the new rules and a transfer |
| You are under 25 | The 200 euro one-off bonus is part of the subsidy only from 2027 | Bonus usable under the committee recommendation |
| You are self-employed | Eligibility is limited under the old law | The group of eligible people expands from 2027 |
| You want to compare costs and providers | Time pressure until 31 December 2026 | Compare in winter, sign once products are available |
For costs and product types see Altersvorsorgedepot vergleichen (in German). The tax side is covered in Altersvorsorgedepot und Steuern (in German). The reform as a whole is explained in Riester-Reform 2027 (in German).
Frequently asked questions
Is the Altersvorsorgedepot already available at banks?
A subsidised contract under the new law can be certified only from 1 January 2027. Providers can announce offers, but a depot entitled to subsidies under the new law does not exist before that. Ask the provider which legal basis the contract rests on.
Do I have to cancel an existing Riester contract to use the depot?
No. Existing contracts continue under the old rules. Cancelling before the payout phase can be a harmful use, in which case subsidies have to be repaid (section 93 EStG). A transfer to another retirement provision contract is not a harmful use. More in Riester wechseln (in German).
Is January 2027 better than later in the year?
The subsidy follows contributions in the contribution year, not the signing date. If you pay in less during 2027, you receive correspondingly less subsidy. An earlier start makes it easier to reach the annual amount.
What role does my age play?
People under 25 receive a one-off 200 euros extra under the committee recommendation. If you are older, you have less time until payout begins, which can matter for the choice of product.
What to do now
- Check whether you already hold a Riester contract and read its terms on costs, guarantee and contribution suspension.
- Decide whether you want to save from 2027 and with what annual contribution, because the subsidy scale depends on that amount.
- Compare providers in December on costs, product type and switching terms. You can get a personal assessment from Academycon.
- Sign after certification from January 2027 and check whether the provider applies for the subsidy automatically.
Related guides
- Altersvorsorge 2027: Der Überblick zu Depot, Frühstart-Rente und Riester (in German)
- Riester-Vertrag weiterlaufen lassen oder kündigen? (in German)
- Riester wechseln: Was der Umstieg ins Altersvorsorgedepot kostet (in German)
- Altersvorsorgedepot vergleichen: Worauf es bei Kosten ankommt (in German)
Sources: Bundesrat, paper 206/26 (decision), consent to the Altersvorsorgereformgesetz of 8 May 2026; Bundestag, paper 21/4996, committee recommendation of 25 March 2026; AltZertG, consolidated version from 1 January 2027, as of November 2026; Deutsche Rentenversicherung, Altersvorsorgereformgesetz, as of 17 September 2026; section 84 EStG.
Last updated: November 2026. This guide is general information, not individual advice.
