How is it different from Riester?
With Riester, at least the contributions you paid in must be there when payouts begin. The provider has to secure that promise over the whole term, which limits how much it can put into more volatile investments. The retirement account has no such requirement – products without a capital guarantee are explicitly eligible: more return potential, but price swings you have to be able to sit out. The tax deduction is shaped differently, too: with Riester up to €2,100 a year counts, allowance included; under the new rules it is €1,800 of your own contributions plus the allowance on them. Whether you come out ahead depends on how large your allowance is. You can leave an existing Riester contract running as it is – it then stays an old contract under the old rules. There are two ways into the new subsidy: you tell your current provider, irrevocably, that the new rules should apply, or you take out a new subsidised contract after 31 December 2026 – then the new rules apply to all your contracts. Moving your balance is a separate step: you cancel the old contract for a transfer, with three months’ notice to the end of a quarter. This is based on the Retirement Contracts Certification Act and the Income Tax Act as they apply from 1 January 2027; the Riester points describe the legal minimum, not any one provider’s product.
Frequently asked questions
What are ETFs (index funds)?
In recent years, exchange traded funds (ETFs) have established themselves as an alternative to open-ended, actively managed investment funds. An ETF replicates a given index as precisely as possible and adjusts its composition to match its reference value.
For example, when you buy an MDAX ETF, you get all the stocks in the MDAX in exactly their current composition on the market. If the composition of the MDAX changes, the composition of your ETF changes too.
As a result, the management and administration fees for an ETF are significantly lower. On average they amount to 0.17 percent of the invested sum per year. If a fund manager actively looks after your investment funds, the costs rise to 1.5 to 2.5 percent per year.
What does Global Portfolio mean?
If you opt for our Global Portfolio, you invest across the entire market. From the risk you are willing to take, we derive the composition of your portfolio. More equities mean more risk – but also more return opportunities. More bonds reduce the risk – but also the return opportunities.
The Global Portfolio is generally suitable for building wealth. You can also take it out in a sustainable variant.
How does account opening work?
First, you register via “Open account” on our portal. To do so, you sign up with your email address and a password of your choice.
You then receive a PIN code by email to verify your email address. Once you have entered this PIN code, your personal details, contact details and ID details are recorded.
Finally, you have the choice between identity verification in the quirion app, on your computer, or at a Deutsche Post branch. Your quirion account is then opened for you without delay.
How does online video identity verification work?
quirion has to be certain that you really are the person for whom the account or the securities account is being opened.
For banks, the German Anti-Money Laundering Act requires an identity verification check.
With quirion, you have the choice:
You can verify your identity by VideoIdent, in the quirion app or on your computer.
You can also use the online ID function (eID) of your identity card, or verify your identity with PostIdent at a Deutsche Post branch.
For this you need a valid identity card or your passport plus proof of address (e.g. a phone bill).
The easiest way is to verify your identity with our app.
Once identity verification is complete, we receive your data and can then open your account.
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