Retirement provision for students can start with small amounts, because what matters is that you pay in early and regularly. Anyone who starts with 25 euros a month and keeps it up for 40 years has paid in 12,000 euros without ever having to find a large sum at once. Whether Riester, a basic pension, a private pension insurance or an ETF savings plan suits you depends on your income and your protection.
The most important points in brief
- Statutory pension entitlements during studies are limited: University time counts as a qualifying period, but no contributions are paid.
- Students only receive Riester subsidies if they are subject to pension insurance through a job or internship, for example in a mini-job without exemption.
- The pension reform has been passed: New retirement provision accounts are to start on 1 January 2027. Whether students will be subsidised there has not been settled.
- Before any provision comes the protection against basic risks and a reserve for the unexpected.
- Every investment can fall in value. Returns cannot be guaranteed.
Why is it worth starting retirement provision during your studies?
The earlier you pay in, the more years remain in which your money can grow. Even small amounts add up over decades, without you having to restrict your everyday life during your studies much.
The simple arithmetic of payments already shows this. The following table contains no return, it only shows how much you pay in altogether:
| Monthly savings rate | Payments per year | Payments after 40 years |
|---|---|---|
| 25 euros | 300 euros | 12,000 euros |
| 50 euros | 600 euros | 24,000 euros |
| 100 euros | 1,200 euros | 48,000 euros |
What this turns into depends on the product, its costs and market developments. A statement about the amount of a future pension is therefore not reliable.
What do I get from the statutory pension during my studies?
Time at a university counts as a qualifying period from the age of 17, up to eight years in total for school and study periods combined. No contributions are paid for it, but the time flows into the 35-year waiting period and into the pension calculation. It does not appear on your pension account automatically: You need the certificate of enrolment and later the certificate of de-registration or the degree certificate (German Pension Insurance, in German).
Anyone working a mini-job alongside their studies usually pays into pension insurance. The total contribution is 18.6 per cent, of which the employer pays 15 per cent and you pay 3.6 per cent. At earnings of 603 euros, that is 21.71 euros a month. According to German Pension Insurance, one year of a mini-job with 603 euros increases the pension by about 5 euros a month (mini-jobs and pensions, in German). More on the statutory side is in our article on pension insurance during your studies (in German).
Can I take out a Riester pension as a student?
You are only eligible for the subsidy if you are subject to pension insurance, for example through a mini-job without exemption from pension insurance. An exemption from the pension contribution on a mini-job can therefore cost you the Riester subsidy.
The pension reform changes the situation. The Bundestag and the Bundesrat have passed it (27 March and 8 May 2026). New retirement provision accounts are to become possible from 1 January 2027, while existing Riester contracts continue. Whether and until when new Riester contracts can still be concluded, your provider can tell you. Whether students will be subsidised under the new rules is open. If you are considering Riester now, have the subsidy and the costs checked in writing. The early-start pension for young people has so far only been planned and is not part of the law that has been passed.
Is a basic pension worth it for students?
For most students, probably not, because the advantage of a basic pension is a tax one and only takes effect if you pay tax. The basic allowance in 2026 is 12,348 euros. If you stay below it, you have no tax advantage that could make a difference.
With a basic pension, also check the form of payout and the termination options, which are often restricted. It may become interesting once you start working with a higher income. How much tax you actually pay during your studies and what students can deduct from tax (in German) is covered in a separate article.
ETF savings plan or private pension insurance: Which suits me?
An ETF savings plan is flexible: You can adjust the instalment, pause it or withdraw money. In return, you bear the price risk, and the value can at times fall below what you paid in. A private pension insurance ties you in for longer, offers a lifelong pension depending on the tariff, and is usually less flexible.
| Criterion | ETF savings plan | Private pension insurance |
|---|---|---|
| Flexibility | Instalment adjustable, withdrawal possible | Contract commitment, cancellation can mean losses |
| Risk | Price fluctuations, loss possible | Depends on the tariff, again no guarantee of return |
| Payout | Freely selectable | Usually a pension, sometimes a capital option |
| Costs | Fund costs and possibly custody fees | Acquisition and administration costs, shown in the contract |
Which model fits depends on your savings rate, your time horizon and your willingness to take risk. Before signing, check the costs, the cancellation options and what happens if you cannot pay the instalment for a short time. To assess offers, a serious financial advice service (in German) is worthwhile, where you clarify the adviser’s fees and authorisation beforehand.
In what order should retirement provision for students come?
First comes protection, then the reserve, then provision. A loss you cannot pay costs more than any savings rate can bring in.
- Basic protection: Health insurance and personal liability, later disability insurance. Which policies are really needed is shown in our overview of which insurance students need (in German). How to reduce costs is shown in student discounts on insurance (in German). Legal expenses insurance for students (in German) also belongs on the checklist, but is rarely the first step.
- Reserve: A buffer for the unexpected before you tie up money for the long term.
- Retirement provision: A small instalment that you can keep up even when your income fluctuates.
Frequently asked questions
When should I start retirement provision?
As early as possible, but only after the basic risks are covered and a small reserve is in place. During your studies, an amount that stays affordable on a tight budget is often enough. More important than the amount is that you pay in regularly and can adjust the instalment when needed.
Am I eligible for Riester as a student?
Only if you are subject to pension insurance through a job or internship, for example in a mini-job without exemption. The adopted pension reform changes products and subsidies from 2027. Whether students will be subsidised under the new rules is not settled. Check the current position before you sign.
How much should I save for my pension during my studies?
A fixed sum cannot be given across the board. What matters is what your budget allows after rent, insurance and reserve. 25 euros a month alone adds up to 12,000 euros in payments over 40 years. You can increase the instalment later when your income rises.
Is an ETF savings plan safe?
No, an ETF savings plan is not safe. The value moves with the markets, and there is no guarantee of return or preservation of capital. A long investment period can cushion fluctuations without ruling them out. Only invest money that you will not need for many years.
What to do now
- Check whether your basic protection is in place: Health insurance, personal liability and a reserve.
- Set an instalment that you can also pay in weaker months.
- Keep your certificate of enrolment and submit it to the pension insurer, together with the certificate of de-registration or the degree certificate, so that the qualifying period is recorded.
- Compare costs, cancellation options and risk before you sign a contract.
If you want to talk through your situation, you will find the way to advice on the Academycon homepage (in German).
You can find reviews of us on ProvenExpert, Trustlocal and Trustindex. Academycon was mentioned, among other things, in a press release reported by CNN Money Schweiz (in German). An overview of all mentions is on the press page (in German).
Related articles
- Insurance for students: The cover you really need (in German)
- Financial advice for students: Experiences, costs and reputable providers (in German)
- Tax benefits during your studies: What you can deduct in 2026 (in German)
- Pension insurance during your studies: Compulsory cover, exemption and pension points (in German)
Last updated: October 2026. This guide is general information, not individual advice. The German version is authoritative.
