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Altersvorsorgedepot: providers and costs compared

Who offers the subsidised Altersvorsorgedepot from 2027, and what does it cost? We collect every price a provider has published, with its source. Anything not yet known is marked as such.

As of 9 October 2026

No ads, no commission, no affiliate links

26
providers tracked
5
with a published price
0
products certified

All providers at a glance

Sorted by what the running costs cost in the example below. Note: some providers quote only fund costs (TER), others a fee or the total. Each row says what is included. The subsidy is the same everywhere: work it out in the retirement account calculator.

26 of 26 providers

  • flatex

    Neobroker

    prices published
    Running costs
    0.07% p.a.
    Cost in example
    €1,950
    Funds
    Core: one equity and one bond building block. Plus and Flex variants as well
    Promotion
    Product costs covered for the first 5 years (Core)
    Certified
    not yet
    Details
    What the price includes:
    Core: no account fee, no commission on savings plans and one-off purchases. ETF costs (TER) at most 0.07% a year from year six. Prices for Plus and Flex will follow before launch, flatex says.
    Front-end load:
    not published yet
    Minimum:
    not published yet

  • Deka (Sparkassen)

    Fund company

    prices published
    Running costs
    0.1% p.a.
    Cost in example
    €2,887
    Funds
    Standard: a global equity ETF and a European bond fund from Deka (names not given yet)
    Certified
    not yet
    Details
    What the price includes:
    0.1% a year effective costs for the standard offer (ETF costs). Account and subsidy administration free. Individual depot with actively managed funds: 1.0 to 1.5% a year.
    Front-end load:
    not published yet
    Minimum:
    not published yet
    Sold through Sparkassen only. Deka says the terms are subject to BaFin approval, expected in November 2026.

  • Deutsche Bank / DWS (auch Postbank)

    Bank

    prices published
    Running costs
    0.28% p.a.
    Cost in example
    €7,897
    Funds
    Standard: a mix of two ETFs. Plus Zurich insurance products, one with an 80% guarantee
    Promotion
    0.10% instead of 0.28% for the first 2 years
    Certified
    not yet
    Details
    What the price includes:
    DWS standard depot: 0.10% a year for the first two years after signing, then 0.28% a year. DWS Altersvorsorgedepot with advice: 0.99% a year.
    Front-end load:
    not published yet
    Minimum:
    not published yet
    Standard depot digital-only from 1 Jan 2027; advised depot later in 2027.

  • Fidelity (FFB)

    Fund company

    prices published
    Running costs
    0.35% p.a. + €12
    Cost in example
    €10,582
    Funds
    Two actively managed Fidelity ETFs with lifecycle allocation
    Certified
    not yet
    Details
    What the price includes:
    Account fee 1 € a month plus about 0.35% product costs a year on the average balance.
    Front-end load:
    not published yet
    Minimum:
    not published yet
    Other variants (0.75%, VorsorgeDepot Plus) are known only from press reports, so they are not listed here.

  • UnitPlus × J.P. Morgan AM

    Robo-advisor

    prices published
    Running costs
    0.55% p.a.
    Cost in example
    €15,122
    Funds
    Active J.P. Morgan ETFs: Standard with an equity and a bond ETF, Frei 100% global equities
    Certified
    not yet
    Details
    What the price includes:
    Standard: 0.55% total costs a year (0.25% product costs + 0.30% account fee). Frei variant: 0.53%. No order or exchange fees.
    Front-end load:
    not published yet
    Minimum:
    not published yet

  • Scalable Capital

    Neobroker

    prices published
    Running costs
    not published yet
    Cost in example
    –
    Funds
    Standard: one equity and one bond ETF (names not given yet). Self-directed: ETFs, funds, ELTIFs
    Promotion
    ETF costs waived in the standard depot in 2027; “Rentenbonus” credits back the TER of selected ETFs
    Certified
    not yet
    Details
    What the price includes:
    No fees for account, savings plans, deposits or withdrawals. Standard depot: ETF costs 0% a year in 2027, price from 2028 not published yet. Orders 0.99 € (FREE) or 0 € (PRIME+).
    Front-end load:
    not published yet
    Minimum:
    not published yet
    Pre-registration open, launch 1 Jan 2027.

  • Smartbroker+

    Neobroker

    prices published
    Running costs
    not published yet
    Cost in example
    –
    Funds
    Three standard variants: MSCI World, MSCI ACWI or FTSE All-World, each with a bond fund. Free depot with ETFs and funds
    Promotion
    TER fully refunded for the first 3 years (standard depot only, up to 25,000 €); after that only with at least 15 trades a year in the main account
    Certified
    not yet
    Details
    What the price includes:
    No account or savings plan fees. ETF costs (TER) mostly below 0.15% a year, Smartbroker+ says. Orders in the free depot 0 € from 500 € via gettex, otherwise 1 €.
    Front-end load:
    not published yet
    Minimum:
    10 € a month or 120 € a year
    Pre-registration since 8 Sep 2026, launch 1 Jan 2027.

  • quirion

    Robo-advisor

    prices published
    Running costs
    not published yet
    Cost in example
    –
    Funds
    Standard: two ETFs (equities and bonds). Pro variant with a broader portfolio
    Promotion
    ETF costs refunded at least in the first year
    Certified
    not yet
    Details
    What the price includes:
    No account fee at launch; price from year two not published yet. ETF costs 0.07% and 0.08% a year, refunded at least in the first year.
    Front-end load:
    not published yet
    Minimum:
    not published yet

  • Traders Place

    Neobroker

    prices published
    Running costs
    not published yet
    Cost in example
    –
    Funds
    ETFs and funds
    Certified
    not yet
    Details
    What the price includes:
    Standard depot: no account, savings plan or trading fees. Free depot: no account or savings plan fees, gettex orders free from 500 €, otherwise 0.95 €. Fund costs not published yet.
    Front-end load:
    not published yet
    Minimum:
    120 € a year (legal minimum contribution)

  • comdirect

    Bank

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    “Standard” with pre-selected solutions and “Flexibel” with ETFs and funds
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    10 € a month
    comdirect will publish costs before launch. Registration open.

  • ING

    Bank

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    “Relax” with two pre-selected ETFs, “Aktiv” with your own selection
    Promotion
    50 € start bonus for new customers: sign up to the list by 30 Nov 2026, open by 15 Feb 2027
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    10 € a month

  • Consorsbank

    Bank

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    Standard depot with two pre-selected funds, plus a flexible Altersvorsorgedepot with a wider choice
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    120 € a year (legal minimum contribution)
    Launch “early 2027”.

  • DKB

    Bank

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    “selected ETFs”
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    not published yet
    Riester transfers via DKB banking announced from January 2027.

  • Commerzbank

    Bank

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    not published yet
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    120 € a year (legal minimum contribution)
    Newsletter sign-up; launch announced for 1 Jan 2027.

  • Trade Republic

    Neobroker

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    not published yet
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    not published yet
    Offer announced for launch on 1 Jan 2027, no product page or prices yet.

  • finanzen.net zero

    Neobroker

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    ETFs
    Certified
    not yet
    Details
    What the price includes:
    “free of charge at ZERO” without a breakdown; fund costs not stated.
    Front-end load:
    not published yet
    Minimum:
    10 € a month
    Waitlist.

  • Union Investment (Volksbanken Raiffeisenbanken)

    Fund company

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    UniVorsorge Basis (global equity and bond ETF), Pro (active global equity fund), Garantie
    Certified
    not yet
    Details
    What the price includes:
    Prices not published yet. Union says its cheapest variant is “well below” the 1% cost cap.
    Front-end load:
    not published yet
    Minimum:
    120 € a year (legal minimum contribution)

  • Allianz

    Insurer

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    Standard depot with two fixed active ETFs; AVD InvestFlex with up to 10 funds; guarantee variant with 80%
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    120 € a year (legal minimum contribution)
    Standard depot announced to be available online from 1 Jan 2027.

  • Oskar

    Robo-advisor

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    Global ETFs, standard depot only (no free depot)
    Certified
    not yet
    Details
    What the price includes:
    Price not published yet; Oskar says it is “well below” the 1% cost cap.
    Front-end load:
    not published yet
    Minimum:
    not published yet
    Waitlist.

  • Whitebox

    Robo-advisor

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    Global low-cost ETFs with automatic rebalancing
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    10 € a month
    Waitlist, expected launch 1 Jan 2027.

  • Ginmon

    Robo-advisor

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    Standard depot with 2 ETFs, managed portfolio with up to 14 ETFs
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    120 € a year (legal minimum contribution)
    Waitlist (“Ginmon Pension”).

  • growney

    Robo-advisor

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    Model portfolios of Vanguard ETFs
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    not published yet

  • Evergreen

    Robo-advisor

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    Evergreen funds with a profile-based glide path
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    not published yet
    Waitlist.

  • Raisin

    Platform

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    not published yet
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    120 € a year (legal minimum contribution)
    Waitlist, launch 2027.

  • N26

    Bank

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    Standard with a fixed portfolio, plus ETFs and funds
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    not published yet
    Launch announced for January 2027, “subject to regulatory certification”.

  • Targobank

    Bank

    announced
    Running costs
    not published yet
    Cost in example
    –
    Funds
    ETFs and funds
    Certified
    not yet
    Details
    Front-end load:
    not published yet
    Minimum:
    not published yet
    Launch announced for 1 Jan 2027.

No ranking, no test winner: the order follows only the published running costs. Providers without a percentage price are at the bottom. Every figure links to its source. We only show figures the provider has published itself.

What the fees cost over 30 years

Example: you pay in €150 a month for 30 years and get €540 of basic subsidy every year. At 5% a year before costs you would end up with about €158,183. This is how much of that the fees take, including the growth the fee money can no longer earn. Try your own amounts in the calculator.

  • flatex · 0.07% p.a.−€1,950

    End value €156,233, of which fees paid directly €1,236. The 5 free years are included.

  • Deka (Sparkassen) · 0.1% p.a.−€2,887

    End value €155,296, of which fees paid directly €1,789.

  • Deutsche Bank / DWS (auch Postbank) · 0.28% p.a.−€7,897

    End value €150,287, of which fees paid directly €4,891. The launch price of 0.1% for the first 2 years is included.

  • Fidelity (FFB) · 0.35% p.a. + €12−€10,582

    End value €147,602, of which fees paid directly €6,400.

  • For comparison · 0.5% p.a.−€13,821

    End value €144,362, of which fees paid directly €8,512.

  • UnitPlus × J.P. Morgan AM · 0.55% p.a.−€15,122

    End value €143,061, of which fees paid directly €9,306.

  • For comparison: standard depot cost cap · 1% p.a.−€26,213

    End value €131,971, of which fees paid directly €16,022.

Based on the running costs as each provider publishes them: depending on the provider that is the ETF costs, a management fee or both together (see table). Without order fees, tax or child subsidy. Assumptions: constant return before costs, fee charged monthly on the balance, promotional prices as announced. Rounded, not a forecast.

What's new

  1. 9 October 2026 · All providers

    Comparison launched: 26 providers with their own announcement, 5 with a comparable percentage price. No product is certified yet.

  2. 9 October 2026 · Scalable Capital

    “Rentenbonus” announced: the TER of selected ETFs is credited back, ETF costs in the standard depot are waived in 2027.

  3. 3 October 2026 · UnitPlus × J.P. Morgan AM

    Prices published: 0.55% total costs for Standard, 0.53% for the Frei variant.

  4. 28 September 2026 · Deutsche Bank / DWS (auch Postbank)

    DWS standard depot announced: 0.10% for the first two years, then 0.28%.

  5. 9 September 2026 · Deka (Sparkassen)

    Standard offer announced at 0.1% effective costs, subject to BaFin approval.

  6. 8 September 2026 · Smartbroker+

    Pre-registration opened, TER refunded for the first three years.

What to look out for

  • Total costs, not the headline price. What counts is the account or management fee plus the cost of the funds (TER). Both together appear as effective costs in the product information sheet.

  • Promotions end. “3 years free” is a small part of a 30-year contract. Look at the price afterwards.

  • Front-end load. Classic actively managed funds can take several per cent of every payment up front. ETFs usually have none.

  • Fund choice. Check that broad ETFs are available, for example on the MSCI World or FTSE All-World. How funds and single shares differ is explained in ETF or single stock.

  • Use the standard depot as a benchmark. Every provider must offer a simple standard depot with a 1.0 % cost cap. If you do not want to pick funds yourself, compare exactly that offer.

  • You are not locked in for ever. Switching provider is free after 5 years; before that it may cost at most 150 €.

  • Certification. Only a certified contract is subsidised. Ask whether the product is certified before you sign.

The subsidy is the same everywhere

The subsidy comes from the state, not the provider. With 1,800 € of your own money a year you get €540 of basic subsidy, plus up to €300 per child you receive Kindergeld for. If you are under 25 at the start of the year, you get a one-off €200 on top. Below €120 a year there is no subsidy. All the rules, including Riester and payouts, are in the Altersvorsorgedepot topic. For children the state also plans the Frühstart-Rente.

Questions about providers

Which Altersvorsorgedepot provider is cheapest?

It is too early to say for sure. Only some providers have published prices, and they do not always mean the same thing: some quote only the ETF costs, others a management fee or the total. Many prices also apply only at launch. The table above sorts by what the published costs add up to over 30 years, with a source for every figure.

When can I open an Altersvorsorgedepot?

Providers may offer the new products from 1 January 2027. Until then, many only let you pre-register or join a waitlist. Pre-registering is not a contract.

Is any Altersvorsorgedepot certified yet?

No, as of this page. Certification is done by the certification office of the Federal Central Tax Office (BZSt). Only a certified contract receives subsidies. As soon as a provider has a certificate, we will add it here.

Do I get the same subsidy at every provider?

Yes. The basic subsidy, child subsidy and career-starter bonus are paid by the state, not the provider. Providers differ only in costs, fund choice and service. Work out your subsidy in the retirement account calculator.

What is the difference between the standard depot and a free depot?

In the standard depot the provider picks two funds, one cautious and one with more growth potential, and you only choose the split. It has a cost cap of 1.0 % effective costs. In a free depot you choose from the permitted funds and ETFs yourself, without a cost cap. Single stocks are not allowed in either.

Can I switch provider later?

Yes. After 5 years your old provider may not charge for a switch; before that, at most 150 €. The new provider may also charge a one-off administration fee of up to 150 €. You keep your subsidies when you switch.

Do you earn money from the providers on this page?

No. This page has no ads, no affiliate links and no commissions. The order follows only the published costs.

Keep calculating and reading

All about the Altersvorsorgedepot: rules and subsidy Calculate the subsidy with your own numbers

Other ages

Sources

The sources for each provider are in the table. The legal rules come from:

As of 9 October 2026. Educational content, not investment or tax advice. Prices can change at any time; the provider's contract documents are what count.