If you want to move a Riester contract into an Altersvorsorgedepot (the new subsidised retirement provision account), the costs depend on a distinction that is often blurred in practice: cancelling and starting anew is different from transferring the capital. This guide covers only the switch. Whether you should change your contract at all is the subject of Riester-Vertrag weiterlaufen lassen oder kündigen? (in German).
Quick answer: Switching costs are capped by law: under the consolidated text of the AltZertG from 1 January 2027 (certification act), the previous provider may charge at most 150 euros for a transfer within five years of signing, after that the transfer is free of charge, and a one-off administration fee of at most 150 euros is also provided for. According to the pension insurance, the previous subsidy does not have to be repaid. Last updated: November 2026.
Key points
- A switch is a transfer of the capital to another retirement provision contract. Under section 93(2) of the Income Tax Act (EStG) it is not a harmful use, so subsidies are not reclaimed.
- The Altersvorsorgedepot can be certified from 1 January 2027 at the earliest. A switch into this product is therefore possible in 2027 at the earliest.
- Notice period under the certification act: three months to the end of a calendar quarter.
- At the new provider, transferred capital that has already been subsidised is left out when acquisition and distribution costs are calculated.
- Instead of switching, you can irrevocably move to the new rules under the committee recommendation and stay in the old contract.
What is the difference between switching and cancelling?
When you cancel with a payout, the capital is paid to you. Before the payout phase this is in principle a harmful use under section 93(1) EStG, and the subsidies must be repaid. In a transfer the capital goes directly to the new provider. Under section 93(2) EStG this is not a harmful use. For a switch into a new contract, the German pension insurance (Deutsche Rentenversicherung) confirms that the previous subsidy does not have to be repaid (page last updated 17 September 2026).
What matters, then, is that you do not cancel the contract yourself and let the money land with you. The transfer runs through the new provider, who handles the switch with your previous provider.
What does switching into an Altersvorsorgedepot cost?
The costs follow from the consolidated text of the certification act (section 1(1) AltZertG, version from 1 January 2027). The following table reproduces the rules.
| Cost item | Rule | Note |
|---|---|---|
| Transfer within five years of signing | At most 150 euros charged by the previous provider | Applies if you leave a young contract early |
| Transfer after more than five years | To be granted free of charge at any time | Also for a transfer to the same provider |
| One-off administration fee | At most 150 euros | Whether and by whom it is charged is set out in the contract terms |
| Acquisition and distribution costs at the new provider | Spread evenly over the savings phase, already subsidised transferred capital is left out | Protects against fresh costs on the old capital |
The amounts are upper limits. What your provider actually charges can only be read from the contract and from written information. Ask explicitly whether the administration fee applies on top of the transfer charge.
How long does a switch take?
The certification rule requires that you can terminate the contract with three months of notice to the end of a calendar quarter in order to transfer the capital. A worked example shows the effect. Assumption: you request the transfer on 15 November 2026, and your contract terms follow this rule.
- Three months after 15 November is 15 February 2027.
- The next quarter end after that is 31 March 2027.
- On that date the capital can flow to the new provider, provided the target contract is certified and ready to sign by then.
This timeline applies only if your specific terms adopt the rule. For older contracts, check your contract documents. A switch into an Altersvorsorgedepot before January 2027 is ruled out anyway, because the product can be certified only from 1 January 2027. More in Altersvorsorgedepot jetzt abschließen oder warten (in German).
Which contracts qualify as a target?
Under the consolidated text, transfer is possible to contracts with a design under section 1(1) or under subsections 1b to 1d. This includes Altersvorsorgedepot contracts. A provider that accepts transfers must provide, on request, information under section 7b if fewer than two years remain until the payout phase begins.
For the target product, check above all the product features, because they differ from a Riester contract:
- The depot without guarantee bears the investment risk entirely, and payout ends after the agreed period, at age 85 at the earliest.
- The guarantee product secures 80 or 100 percent of paid-in contributions plus subsidies at the end of the savings phase.
- The lifelong pension payment of the Riester pension does not exist in the new products, there are time-limited payout plans from age 65.
Switch, or stay in the contract and convert?
Under the committee recommendation of the finance committee, contracts concluded before 1 January 2027 keep the old rules, but you can declare irrevocably that the new rules apply to all your contracts (section 52(50a) EStG). That is an alternative to switching: you use the new subsidies without changing provider. A switch, by contrast, may cost fees, but lets you choose a cheaper or differently constructed product.
| Question | Stay in the contract and convert | Switch into a depot |
|---|---|---|
| New subsidy rules | Yes, by irrevocable declaration | Yes, within the new contract |
| Costs | No switching fee, running costs stay | Switching costs up to the upper limits, new running costs |
| Product features | Remain as in the old contract | New product types, payout plan until 85 |
| Repayment of subsidies | No | No, according to the pension insurance |
Frequently asked questions
Do I have to repay subsidies when I switch?
No, provided the capital flows to the new provider as a transfer. For a switch into a new contract the pension insurance states expressly that the previous subsidy does not have to be repaid.
Can I transfer only part of the capital?
Whether a partial transfer is possible is set by the provider contract terms. Ask there before you plan deadlines.
What applies if my contract is close to the payout phase?
If fewer than two years remain until the payout phase begins, the receiving provider must give you, on request, information under section 7b AltZertG. Check whether a switch is still worthwhile in the time that remains.
Does a switch also apply to Basisrente or company pensions?
This guide covers Riester contracts. Other forms of provision have their own rules, which you can ask your provider about.
What to do now
- Ask your provider for an overview of contract start, costs, notice periods and switching costs.
- Decide whether to stay in the contract and convert to the new rules or prepare the switch.
- From 2027, look for a certified target product and compare costs, supported by this guide (in German). You can get a personal assessment from Academycon.
- Have the new provider handle the transfer and do not cancel yourself with a payout.
Related guides
- Altersvorsorge 2027: Der Überblick zu Depot, Frühstart-Rente und Riester (in German)
- Riester-Vertrag weiterlaufen lassen oder kündigen? (in German)
- Riester-Reform 2027: Was sich für Studierende und Berufsstarter ändert (in German)
- Altersvorsorgedepot vergleichen: Worauf es bei Kosten ankommt (in German)
Sources: AltZertG, consolidated version from 1 January 2027, as of November 2026; Bundestag, paper 21/4996, committee recommendation of 25 March 2026; Deutsche Rentenversicherung, Altersvorsorgereformgesetz, as of 17 September 2026; section 93 EStG, harmful use.
Last updated: November 2026. This guide is general information, not individual advice.
