Altersvorsorge: Sparkassen unterbieten mit Vorsorgedepot Neobroker Scalable

Deutsche Sparkassen compete fiercely for the new Altersvorsorgedepot, Neobroker Scalable's offering, Deka's central fund service. Their standard deposit charges a mere 0.1% per year in fees, with no additional costs. Indexed ETFs, both international and bond-focused, are used for the standard deposit, which can be accessed through the Sparkassen app or in 340 branches.

Deka's Vertriebschef Dirk Peters asserts their product costs are "on par and very competitive in the market," positioning themselves against Scalable Capital's proposed 0.15% annual cost. Sparkassen, with 38 million private Giro accounts, pose significant competition. Analysts predict billions of euros in private investments into the market by 2027, with S&P projecting net annual inflows of 26 to 56 billion euros after a one to two-year implementation phase.

The Gesetz zur Altersvorsorgereform, a major reform in private pensions since 2002, aims to replace the expensive and complicated Riester-Rente. All providers must offer a simple standard deposit with costs limited to a maximum of one percent of the deposited capital. Providers seek to win new customers and retain existing ones by binding clients for 20, 30, or even 40 years.

Despite low individual profits, the long-term nature of the product is appealing, as many fear Sparkassen's standard deposit may not generate profits. The Sparkassen-Finanzgruppe hopes customers will eventually acquire additional securities. Beyond the standard deposit, Sparkassen also offer individual variants with 1 to 1.5% annual fees, with portfolios shifting from equities to bonds and eventually to a money market fund based on the customer's age.

The Deka ETF for the standard deposit is composed of 400 stocks from the MSCI World, with the Sparkassen-Finanzgruppe projected to generate up to 35 billion euros annually in inflows.