Geldanlage: Wie Gutverdiener ihr Altersvorsorgedepot noch besser machen

"Deutschland macht Rente" – this slogan is used by financial service providers to promote their pension savings products. Many advisors now recommend the Riester-Nachfolger (successor of the Riester pension scheme) as a tax-efficient way to save for retirement, especially for those earning around €5,900 per month or more. Unlike the previous scheme, the new Altersvorsorgedepot (pension savings account) allows savers to invest significantly more than the minimum €1,800 per year needed to qualify for the maximum subsidy.

Some experts suggest high earners should consider putting more money into this new account, but alternatives exist.

The Handelsblatt article discusses these alternatives and emphasizes that an Altersvorsorgedepot should always play a role in long-term saving. Upon its introduction in 2027, the state will again provide support, with up to €540 per year in subsidies. To qualify, savers must deposit €1,800 annually into a certified financial product with no more than 1% in total costs. While providers must offer at least one standard product with low costs, they can also offer higher-cost options.

Savers can invest more than the €1,800 required for maximum subsidy, up to €6,840 per year across two contracts. After deducting the €1,800 for the highest subsidy, up to €11,880 can be deposited annually without subsidy. For example, with a 6.5% return after costs, this could accumulate to around €1.3 million in 30 years. The state subsidy for the two pension savings accounts has more than tripled in value over this period.

In retirement, the subsidized and non-subsidized portions of the Altersvorsorgedepot should be treated separately. From the subsidized portion, no more than 30% can be withdrawn. Both parts must be taxed at the individual's tax rate upon withdrawal. If the non-subsidized portion is fully withdrawn at once, half of the returns are taxed at the personal income tax rate.

However, if the capital is withdrawn gradually over a set period, the subsidy still applies: regular withdrawals from the subsidized portion are taxed at the personal income tax rate, while the non-subsidized portion depends on when the payout plan begins. Starting at age 65 results in 18% of the payout rate being taxed at the personal income tax rate, while beginning at 67 reduces this to 17%.

For a lifelong pension, the money is guaranteed until the last breath. According to Niels Nauhauser from the Verbraucherzentrale Baden-Württemberg, this sounds attractive, but pension insurance can only invest cautiously in the stock market to guarantee a lifelong pension. Returns are likely to be lower and costs higher than those of an outflow plan.