Overview
- The government has scheduled the Altersvorsorgedepot to start on 1 January 2027, replacing the Riester-Rente and making the AV-Depot the primary state‑supported private pension vehicle.
- The state subsidy is tiered: a Grundzulage pays €0.50 per €1 on the first €360 and €0.25 per €1 on contributions from €361 to €1,800 for a €540 maximum, and a Kinderzulage offers up to €300 per child per year.
- Savers may invest in ETFs with up to 100% equity exposure, can deposit up to €6,840 annually, and will not pay tax on returns during accumulation but will be taxed on payouts in retirement.
- Public awareness is limited: a YouGov survey for Commerzbank found about two‑thirds of respondents knew little or nothing about the AV-Depot, while roughly four in ten said they would open one in 2027 and banks are preparing outreach and product offers.
- The policy could raise long‑term returns for some households but creates trade-offs for consumers around market risk, fees and fund choice, and it will change how benefits flow within families because child allowances are by default assigned to the mother’s depot.