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Retirement Pension Account

THE BOOSTER FOR YOUR RETIREMENT PROVISION

With the retirement pension account, from 01/01/2027 you can invest in the capital market with state support for the first time. And so benefit from significantly higher return opportunities.

  • Provide for retirement with state support
  • More return opportunities instead of an expensive Riester guarantee
  • From 01/01/2027
Calculate your benefit

Structure of the
Retirement Pension Account

Support for private retirement provision

State allowances of up to €540/year + €300 per child + first-time earner bonus
Tax-privileged contributions

Structure of the retirement pension account

Two product categories: with and without a capital guarantee
Choice between a standard custody account contract (cost cap of 1% p.a.) and an individual provider custody account

Rules for the payout phase

Payout between the ages of 65 and 70, minimum term until age 85
Capital can also remain invested during the payout phase

WHAT THIS MEANS FOR YOU

This is how state support and returns make more of your money.
Year of birth 1991
Tax rate ~37 % up to €57,000 income
The calculator automatically checks whether the state allowance or the special-expense deduction (max. €1,800) is more favourable for tax purposes (§10a EStG-new). For simplicity, the chosen marginal tax rate is also applied to the deferred taxation of payouts (§22 No. 5 EStG). The actual pension tax rate depends on total income in retirement. The results are shown net of tax: the marginal tax rate minus 10 percentage points as a pension deduction (a simplified assumption by the provider, with no statutory basis).
Savings rate €150/month
Up to €30/month (€360/year): 50% basic allowance (max. €180/year). €30–150/month (€360–1,800/year): 25% on the additional amount (max. €360 extra). From €150/month: maximum basic allowance of €540/year. No minimum contribution required (§84 s. 1 in conjunction with §86 EStG-new, reform of 25/03/2026).
Children + Add
Eligible children increase your allowance by 100% of your annual contribution, up to a maximum of €300 per child per year (§85 EStG-new, reform of 25/03/2026). You can also enter planned children with a future year of birth.
Children
Asset development
Expected gain
State allowances
Contribution
Expected gain
State allowances
Contribution
Expected final capital
—
This figure is net of tax (marginal tax rate minus 10 percentage points as a pension deduction) and before costs (0.48% p.a. asset management fee plus approx. 0.20% p.a. ETF costs (TER) — not reflected in the figure shown).
State allowances
—
The sum of the basic allowance (max. €540/year), the child allowance (max. €300 per child/year) and the one-off first-time earner bonus (€200 for those under 25) over the entire savings period (§84 s. 1 in conjunction with §86, §84 s. 2, §85 EStG-new). This figure is net of tax (marginal tax rate minus 10 percentage points as a pension deduction) and before costs (0.48% p.a. asset management fee plus approx. 0.20% p.a. ETF costs (TER) — not reflected in the figure shown).
Expected gain
—
Based on an expected return of 7.96% p.a. (Quirion Global Portfolio). A possible tax refund from the more-favourable check is not reinvested — the actual final capital may be higher. This figure is net of tax (marginal tax rate minus 10 percentage points as a pension deduction) and before costs (0.48% p.a. asset management fee plus approx. 0.20% p.a. ETF costs (TER) — not reflected in the figure shown).

The retirement pension account provides state support for contributions and can thereby strengthen your long-term wealth building.* Learn more

Still have questions about the retirement pension account?

Ask quirion.AI directly about the support, structure and benefits of the retirement pension account.

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Support amount
Investment form
Payout

State support and tax relief mean measurable added value for your private retirement provision. You will find all the details here.

Own contribution / year
Type of allowance
Allowance amount
Limits
Min. €120
up to €360
Basic allowance
50% of the own contribution
Max. €180 basic allowance
360,01 € - 1.800 €
Basic allowance
25% of the own contribution
Max. €360 basic allowance, €540 in total
First-time earner bonus
One-off allowance
200 €
For those under 25
Child allowance
Per child
100% of the own contribution
Max. €300 per child
  • The maximum basic allowance is EUR 540 per year.
  • Child allowances and the first-time earner bonus are granted in addition to the basic allowance and thus increase the total allowances accordingly.

 

Tax advantages‍

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According to the initial draft legislation, retirement provision contributions of up to EUR 1,800 are to be claimable as special expenses.

As part of a more-favourable check, it is determined whether the special-expense deduction or the allowance entitlement is higher, and it will be applied accordingly.

Learn more
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Capital-market-based custody account solutions are supported. Alongside classic guarantee products, products without a capital guarantee are also expressly to be eligible for support.

Standard retirement provision custody account contract 
§ 1 (1c) AltZertG-new 
Mandatory product
Provider-specific retirement provision custody account contract
§ 1 (1b) AltZertG-new
Optional

Two funds (UCITS special funds):
‍

  1. Risk class 1-2 PRIIP Regulation 
  2. Risk class 3-5 PRIIP Regulation 

An unspecified number of assets in the following classes: 
‍

  • Units in UCITS special funds, max. risk class 5 
  • Units in open-ended retail AIFs (§§ 218, 219 KAGB) covered by the PRIIP Regulation, max. risk class 5 
  • Units in open-ended ELTIFs within the meaning of the ELTIF Regulation, max. risk class 5 
  • Bonds of the Federal Government, the federal states, municipalities, public-law corporations and institutions, of EU member states and European institutions, which are issued in euros are issued

Customers are to be given the option of choosing the weighting of the funds; if they do not make a selection: contractually specified weighting

The provider determines the allocation and weighting for the customer

Generally a fixed glide path: 

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  • 5 years before the start of payout, max. 50% in risk class 3-5 
  • 2 years before the start of payout, max. 30% in risk class 3-5 
  • At the start of payout, max. 30% in risk class 3-5
  • Customers can request that other percentages be agreed; a different allocation is possible

Individual glide path 

Max. 1% effective costs p.a. 

No cost cap 

Two product categories are envisaged:
‍

  1. Guarantee products: As with Riester products to date: guarantee products with guaranteed capital at the start of the payout phase. Alongside a 100% capital guarantee, there is also to be a product with an 80% capital guarantee of the capital paid in.
    ‍
  2. ‍(NEW) Retirement provision products without a capital guarantee, focused on higher returns
Learn more
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The payout is to begin between the ages of 65 and 70 and run at least until age 85.

‍Payout phase

  • In the case of a statutory pension/pension before the minimum age, an earlier payout is also to be possible
  • The amount of the monthly payouts is to be redetermined every 1-3 years

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Options:

  • Payout of 30% of the custody account value at the start of the payout phase
  • Early use of the capital from the retirement pension account for owner-occupied housing (construction/purchase/repayment) is possible, § 92a EStG-new
  • Reinvestment during the payout phase is also possible
Learn more
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Matthias Lamberti
Chief Innovation & Product Officer

„With the retirement pension account from quirion, we are setting a new standard for your private retirement provision.“

EARLY-START PENSION:
STATE SUPPORT FOR YOUNG INVESTORS

The early-start pension is a separate support scheme. In parallel with the retirement pension account, from 2027 capital investment for children is to be supported with €10 per month. The 2020 birth cohort will be the first.

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You will find all the information about the so-called early-start pension here.

More information about the early-start pension

Retirement pension account instead of the Riester pension

Why a reform of state-supported private retirement provision is urgently needed.

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The Riester pension was meant to strengthen private retirement provision. In practice, however, high product costs, complex guarantee requirements and limited capital-market orientation frequently led to low return opportunities. Of the 20 million contracts, around 5 million were cancelled. A further 5 million contracts are no longer actively funded today. The retirement pension account is intended to learn from these mistakes. The support is to be designed to be more transparent, more cost-effective and more strongly capital-market-based for savers – in short: to deliver higher returns.

More information about the Riester pension

Provide efficiently for retirement with the ETF pension

Regardless of the planned reform, quirion already offers a capital-market-based solution for private retirement provision today. With our ETF pension, you invest with global diversification, cost-effectively and digitally.
More about the ETF pension

More questions? Out with them!

all FAQs

What is the retirement pension account?

The retirement pension account is a state-supported model for private retirement provision. From 01/01/2027, it lets you invest in the capital market with support for the first time and build wealth for your retirement over the long term.

What does the retirement pension account offer me in concrete terms?

The retirement pension account combines state support with capital-market returns. This can result in higher return opportunities over the long term than with classic supported retirement provision products.

How does the state support work?

You receive state allowances for your contributions and additionally benefit from tax advantages. How high the support is depends, among other things, on your contribution and your personal situation. In addition to the classic support, there is also a child bonus and a first-time earner bonus.

Who is the retirement pension account worthwhile for?

The retirement pension account is worthwhile for everyone who wants to build wealth for their retirement over the long term. It is particularly interesting for savers with Riester experience or for anyone who wants to make use of more return opportunities for their retirement provision.

What is the difference from the Riester pension?

Unlike the Riester pension, the retirement pension account is not geared towards rigid capital guarantees. This can create higher return opportunities and makes the structure simpler and more cost-efficient overall.

What disadvantages does the retirement pension account have?

The retirement pension account relies more heavily on the capital market than classic retirement provision products. This means price fluctuations are possible. It is therefore suited above all to long-term retirement provision.

Can I access the money before the start of my pension?

A payout before the start of your pension is possible in principle, but it can mean you have to repay state support. The retirement pension account is therefore designed for long-term use.

As at: 24/04/2026; own representation by quirion

Note: This calculation serves solely as a non-binding illustration and does not constitute investment, tax or pension advice. The quirion [ETF savings plan calculator] is based on the assumption of a 100% equity investment, with which the return opportunities of the capital market can best be exploited, provided the associated – sometimes considerably stronger – price fluctuations can be tolerated. The return of 7.96% p.a. assumed for equity saving is based on the actual average return of the MSCI All Country World Index (MSCI ACWI for short, calculated in euros, incl. dividends) over the past 20 years (as at 30/06/2024). It mainly comprises standard equities from developed and emerging markets. For the estimate, a constant performance over the entire term is assumed for simplicity. In reality, however, an equity investment always develops with – sometimes sharp – fluctuations, which can also involve temporary losses. Such estimates are not a reliable indicator of future performance. The assumed ongoing costs consist of [the quirion asset management fee] (0.48% p.a.) plus 0.20% p.a. ETF costs (the Total Expense Ratio, TER). The actual performance may differ considerably. Allowances and tax support pursuant to §§ 10a, 79 ff. EStG-new (reform of 25/03/2026).