What about the Early Start Pension?
That’s a separate state scheme and not the same as a children’s account – the section further up this page shows how they differ. Three things that didn’t fit there: at first, only children born in 2020 qualify, with younger children joining year by year. Children born in 2019 or earlier won’t get the state’s €10 – not even retrospectively; what counts is the year of birth, not today’s age. You choose the provider yourself; if you don’t, the state invests the money collectively through the Deutsche Bundesbank, and your child can later move that share into a contract of their own as starting capital – which must be taken out before they turn 35, otherwise the money goes back to the federal budget. And where the law stands: the account itself is already settled – the standard contract with its 1% cap on effective costs is part of the Retirement Provision Reform Act of May 2026 and applies from 2027. The Early Start Pension needs a law of its own, and that one isn’t through yet: the cabinet approved the bill on 12 August 2026, and the Bundestag and Bundesrat still have to agree. That bill is also where two more rules come from: no sign-up or sales costs may be charged before the 18th birthday, and from 2027 the same standard contract is to be available for children without an entitlement – just without the state’s €10.
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.
- Early start pension: what is behind it
Blog · 4 min
- Retirement provision from 50: a better pension with ETFs
quiPedia · 4 min
- How to close your pension gap
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- Private Pension Provision: Options at a Glance
quiPedia · 7 min
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