Retirement provision portfolio: Why consumers should wait for new offers

Berlin. Anyone who receives advertising for the retirement provision depot or switching offers as a Riester saver should not decide hastily on a provider or a change. The advice portal “Finanztip” advises this.

The background to this is: From January 2027, consumers will be able to take out a retirement savings account (AV account) in order to make private provisions for retirement. Anyone who chooses the model receives government funding. The AV depot is part of the pension reform and is considered a further development of the Riester pension.

Some banks and neobrokers are already advertising for customers with their first offers. According to Finanztip, more insurers and financial service providers will be added from autumn onwards. Finanztip therefore advises consumers not to commit too early, but rather to wait and see.

Especially because the contracts often run for many decades, it is crucial to take a closer look at all offers - including their costs, services and the expected return. Seemingly small differences can have a big impact - and quickly amount to more than 20,000 euros, as a model calculation by Finanztip shows.

Assuming a person was born in 1990, has an annual gross income of 40,000 euros and pays 150 euros a month into the AV depot from next year until they retire at the age of 67. The assets would then grow as follows with an average return of six percent per year (before costs and including state allowances):

with effective costs of 0.1 percent to around 145,000 euros

with effective costs of 0.6 percent to around 133,000 euros

with effective costs of 1 percent to around 124,000 euros

Riester savers should be particularly careful. According to Finanztip, you will probably be informed by letter about switching options in the coming weeks. According to the experts, the switch can be worthwhile, but you should compare the products carefully.

Tip: Riester customers can check for free online whether a transfer makes sense using the Finanztip comparison calculator.

Even if individual providers advertise that there is no fee to pay in the first year, consumers should not allow such marketing campaigns to pressure them into making hasty decisions.

The market is still developing and there is still time until the start of 2027 to compare the offers in peace, according to Finanztip. In addition to the costs, what is also crucial is which investment products are actually available.

According to the Federal Ministry of Finance, savers receive an additional 50 cents from the state as a basic allowance for every euro they save - up to an annual personal contribution of 360 euros. For every additional euro saved - a maximum of 1,800 euros per year - you get 25 cents. Child allowances are also possible under certain conditions.