The Riester pension (Riester-Rente) gets a new payout logic with the reform of the rules on retirement provision. If you hold a Riester contract today, the main questions are what will be paid out at the end and whether the contract can be switched.
Short answer: According to the page of the Deutsche Rentenversicherung (status 17.09.2026, in German), the Riester pension is replaced by the new model from 2027. Existing Riester contracts continue. In future you can choose between a lifelong pension and a withdrawal plan designed to run for 20 years from age 65. Last updated: November 2026.
The most important points
- The reform separates existing contracts, which continue, from the new models.
- For existing Riester contracts the DRV explicitly confirms that they keep running.
- The new option is a choice between a lifelong pension and a withdrawal plan.
- A withdrawal plan is designed to run for 20 years from age 65.
- The lifelong pension ends for the new time-limited pensions, as the DRV describes.
- How older contracts are paid out in detail is set out in the contract and the provider documents.
What changes for the payout
According to the Deutsche Rentenversicherung (German Pension Insurance), two routes will exist in future: a lifelong pension or a withdrawal plan. The withdrawal plan runs for 20 years from age 65, after which the capital is used up. For the pension depot without guarantees, the page names age 85 as the earliest end of the payout.
| Feature | Riester (until now) | New time-limited pension or withdrawal plan (from 2027) |
|---|---|---|
| Payout | A lifelong pension is the usual route | Choice between a lifelong pension and a withdrawal plan |
| Term | Lifelong | 20 years from age 65, according to the DRV page |
| Status of the contract | Existing contracts keep running | New models from 2027, switching possible by declaration |
If you have been saving for a long time, weigh up keeping the contract against switching. The decision depends on contract terms and costs. For an overview, see Keep or cancel your Riester contract?, and for the switch see Switching Riester.
What applies to existing contracts?
The Deutsche Rentenversicherung states on its page that existing Riester contracts continue. Anyone who also concludes a new contract is, according to that presentation, subject to the new rules for the existing contract as well. The page does not describe contract by contract whether and in what form the former lifelong Riester pension continues for older contracts. The individual contract is decisive.
How is a switch treated?
According to the DRV presentation, switching to the new funding should be possible by a declaration. The previous state funding does not have to be repaid. Legally limited switching, conclusion or distribution costs can still arise. The page does not make explicit statements on transfer into a pension depot.
Frequently asked questions
Will I still receive my Riester pension for life from 2027?
For existing contracts, the previous rules continue to apply according to the DRV presentation. For the new time-limited pensions, lifelong payment does not apply. Exactly which payout you have is set out in your contract, and open questions should be clarified with the provider.
Why does the withdrawal plan only end at 85?
The DRV page explains that the money in the withdrawal plan is used up after 20 years from age 65 and the contract ends at age 85. For the pension depot without guarantees, the page names age 85 as the earliest end of the payout.
Do I need to take any action to keep my state funding?
According to the DRV presentation, a switch is possible by declaration without repaying the previous funding. Before deciding, it is worth looking at the contract documents and the information from your provider.
What to do next
- Find your contract documents and check the payout rules of your own contract.
- Clarify whether the contract continues or a switch makes sense.
- Ask the provider about costs for switching and for concluding a new contract.
- Compare your overall plan with the overview of retirement provision 2027 (in German).
The payout period at a glance
The Deutsche Rentenversicherung describes a payout phase of 20 years from age 65 for the withdrawal plan. The table below converts this period into ages. It shows only the timeline, not the amount paid out.
| Age | Phase according to the DRV presentation | Note |
|---|---|---|
| up to 64 | Saving phase in the contract | Depends on contributions, state funding and contract terms |
| 65 to 84 | Withdrawal plan runs for 20 years | The amount paid out is set out in the contract |
| from 85 | Contract ends, capital used up under the plan | According to the DRV page, the contract ends at age 85 |
The table makes one point clear: the withdrawal plan spreads the capital over a fixed period instead of paying a lifelong amount. Anyone who lives longer does not receive more beyond the term, and anyone who needs money early must understand the distribution in the contract beforehand.
What to ask your provider
- Which payout type applies to your contract and whether it can still be changed later.
- Which costs arise for a switch or for a new contract.
- How the existing capital is transferred into a new contract and which deadline applies.
- Whether the previous state funding is kept after a switch, and how this is confirmed in writing.
What happens to the funding when you switch
According to the DRV presentation, previous state funding does not have to be repaid when switching. This applies to the switch itself. Legally limited costs remain possible, and the terms of any new provider must be checked separately. Anyone who looks only at the funding quickly overlooks the cost side.
Do I have to switch my contract from 2027?
According to the DRV, existing contracts continue. A switch is an option but not a duty, as long as the contract continues under the rules. Whether a switch pays off depends on costs, payout type and your personal situation, not on any obligation.
Why the contract is the measure
The statute sets the framework, but the payout in each case is determined by the contract. It therefore makes sense to compare the contract documents with the DRV presentation. Where both agree, the position is clear. Where they do not, the provider should give written information.
What happens if I do nothing?
According to the DRV presentation, existing contracts continue. A switch is therefore only needed if you explicitly want one. Without a decision, the contract stays in its current form, unless the rules provide otherwise.
Related articles
- Retirement provision 2027: overview of the pension depot, early-start pension and Riester
- Keep or cancel your Riester contract?
- Switching Riester to the pension depot
- Pension depot: from which income is it worthwhile?
- Company pension or pension depot: which option suits you?
Sources: Pension reform law on the Deutsche Rentenversicherung page (German text, status according to the page 17.09.2026).
Last updated: November 2026. This guide is general information, not individual advice.
