CapitalPathCapitalPath

CapitalPath Weekly

Still open before 2027: what is settled on the Altersvorsorgedepot

About 90 days before the 1 January 2027 launch: what is confirmed in law and official FAQs for the Altersvorsorgedepot, and what is still open, above all the publicly run Standarddepot. Orientation, not a recommendation.

Nilesh Kulkarni · CapitalPath

Updated

Read the German version

Abstract illustration: a calendar grid above a timeline, with the last cell marked.

Why this matters

Update, 20 October 2026: As things stand, Altersvorsorgedepot contracts can be signed from January 2027, and the waitlist is open now. The details are on the Altersvorsorgedepot page.

According to the Federal Government and the BMF, providers may offer the new tax-supported private retirement products from 1 January 2027. That leaves about 90 days. The Altersvorsorgereformgesetz, the act reforming state-supported private pensions, is already in force, but no certified new contracts are on sale yet.

If you want to understand the framework before any decision comes up, it helps to sort what is known into three groups: what is confirmed in statute and official FAQs, what the law makes possible but has not yet filled in, and what is only just taking shape in the market. One gap stands out. The ordinance under which the Federal Government can appoint a public operator for a Standarddepot Altersvorsorge is, in the BMF FAQ’s own words, “currently not yet available.”

What changed

  • CONFIRMED

    The Altersvorsorgereformgesetz is in force (BGBl. 2026 I No. 156; published 29 May 2026, enacted 26 May 2026). According to the Federal Government FAQ (1 June 2026) and the BMF FAQ (5 May 2026), providers may offer the new tax-supported private retirement products from 1 January 2027. The BMF FAQ sets out the core rules for the Standarddepot Altersvorsorge: effective costs capped at 1.0%; two preset investment funds named in the pre-contractual information; and a gradual shift into the lower-risk fund in the years before payouts begin, unless a different split is requested. State allowances per the BMF and the Federal Government: a basic allowance of up to €540 (50 cents on the first €360 of own contributions, 25 cents on the next €1,440 up to €1,800); a child allowance of up to €300 per child for €300 of own contributions; and a one-off €200 career-starter bonus for anyone who has not yet turned 25 at the start of the contribution year. Annual contributions are capped at €6,840, of which up to €1,800 qualifies for allowances. Newly eligible in their own right are, among others, self-employed people with income under EStG §15 or §18(1) nos. 1–3 who file a tax return, and compulsory members of professional pension schemes (berufsständische Versorgungswerke). Existing Riester contracts are grandfathered; no new contracts under the old Riester model will be offered from 2027. The BMF FAQ states explicitly that the ordinance for a public operator of a Standarddepot contract “is currently not yet available.”

  • PROPOSED

    The Act allows a public operator to offer a Standarddepot on the same criteria as privately offered standard products (BMF FAQ). Actually appointing that operator requires a Federal Government ordinance. Bundestag short news item hib 540/2026 (1 July 2026) summarises government reply 21/6726 to minor interpellation 21/6412: the BMF is in talks within government and with possible operators, the requirements for an operator are complex, and coordination on implementing the public Standarddepot is not yet complete. It names no specific operator and no timetable.

  • STILL DEVELOPING

    Certified new products are not yet on sale; the start date is 1 January 2027. On the official sources above, the public Standarddepot operator and the related ordinance remain open, and no newer official decisions are assumed here. From the industry (not the government): the IVFP provider survey (11 May–8 July 2026, n=50) reports that 72% of participating firms plan at least one product, and many expect product documents only in September/October or later. That is an industry survey, not a government statement.

Who may be affected

This matters most to households that want to understand the planned 2027 framework for tax-supported private retirement saving, including self-employed people and compulsory members of professional pension schemes, who are set to become eligible in their own right. It is also relevant if you already have a Riester contract: the FAQs cover grandfathering and a later route into the new allowance system, but none of that means a purchase or switch is due now. If you use a Basisrente (often called a Rürup pension), the BMF FAQ does not provide for a transfer into the new private retirement contract. This describes the legal and FAQ position, not anyone’s individual situation.

What should people pay attention to?

  • Which statements come from the statute and the BMF / Federal Government FAQs, and which from industry surveys or the press?
  • What does “Standarddepot Altersvorsorge” mean in practice (cost cap, two funds, gradual shift) compared with a freely chosen Altersvorsorgedepot or a guarantee product?
  • How does the allowance rise with your own contributions, and where do allowance eligibility (€1,800) and the annual contribution cap (€6,840) end?
  • Does the public Standarddepot operator matter for your own orientation right now, or is the private standard-product framework from 2027 enough to go on?
  • Which questions about eligibility (for example self-employment, membership of a professional pension scheme or an existing Riester contract) should be cleared up before any decision, without manufacturing urgency while new contracts aren’t yet available?

CapitalPath perspective

CapitalPath treats the Altersvorsorgedepot as a legal and allowance framework, not as something to sell. With about 90 days to go before products launch, what helps most is clarity: a great deal is settled in law and in the FAQs, while the ordinance for a public operator and certified products are still to come. So the order stays the same: understand where things stand (confirmed, proposed, still developing), then ask the questions that fit. There is no reason to manufacture urgency while the market and the ordinance are still catching up. Orientation comes before decisions.

Explore this further

Sources & primary documents

Creation note

This content may be created using AI assistance.

A short note

This is general information and orientation, not individual advice.

Back to Insights