FAZ2 hours agoBusiness1 min readGermany

Riester's successor "retirement provision depot" triggers uproar in the financial industry

Quick Look

The new retirement savings account as a Riester successor offers higher allowances and more flexible investments for around 50 million people in Germany who are entitled to benefits.
The financial industry is discussing how many will open such a portfolio at the turn of the year and with which provider.

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Why It Matters

The retirement savings account is the state-funded successor to the Riester contract and offers higher allowances and more flexible investment options for those eligible for funding in Germany.

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Word is probably slowly getting around that the Riester successor “retirement provision depot” is worthwhile for all those entitled to support. The allowances are significantly more generous than at Riester, and the investments are more flexible. The entire financial industry is therefore in turmoil: How many of the approximately 50 million people entitled to benefits (almost everyone except pensioners and children) will open such a depository at the turn of the year and with whom?

What to Watch

AI outlook — possibilities, not facts

At the turn of the year, several million eligible people will open a retirement savings account.
Likely · Within months

Open Questions

How many of the 50 million eligible people will actually open a retirement savings account at the turn of the year?
Which financial institutions are the majority of deposit accounts opened at?
How will the uptake of the new product compare to the Riester contract in the long term?