Altersvorsorgedepot: Scalable setzt mit seinen Konditionen Konkurrenz unter Druck

Neobroker Scalable Capital is attracting potential customers with its new retirement savings account, offering attractive conditions that are putting competitors under pressure. The overall cost ratio, known as the Total Expense Ratio (TER), is set to be at most 0.15 percent annually, even zero percent in the first year, according to the neobroker.

Account and deposit management are free of charge, which means Scalable is below the legally stipulated maximum costs of one percent for the standard offering. The German Age-Pension Reform Act requires all providers to offer a simple standard deposit with costs not exceeding one percent of the deposited capital. Most competitors have yet to announce their conditions, yet a fierce competition is already evident.

Cornelius Riese, CEO of the cooperative leading institution DZ Bank, predicts a "very strong competition" in a dimension rarely seen in the financial services industry. This applies equally to the retirement deposit and the planned early retirement pension. From January 1, 2027, more than 50 million people in Germany are expected to use the new retirement deposit, which is meant to replace the often criticized expensive and complicated Riester pension.

A state standard deposit is also planned, providing every child between the ages of six and 18 with a monthly contribution of ten euros from the federal government to an investment deposit account.