Private retirement provision 2026
Calculate your premium, tax savings and target pension in 2 minutes. Current guaranteed rate 1.00 %, Riester subsidy €175, Basisrente deductible up to €29,344.
Last updated: 21 May 2026 · meinetarife24 Editorial Team · Free, no signup
Comparing a private pension policy in Germany in 2026 boils down to three numbers: the guaranteed savings rate (currently 1.00 %), the possible surplus participation and the tax break via Riester or Rürup. Once you have those in mind, the jumping between provider sites stops feeling chaotic.
The statutory pension is rarely enough. The German Pension Insurance reported an average standard pension after 45 contribution years of about €1,769 (West) in 2025. Anyone wanting more builds private cover on top. Which of the three routes fits depends on your employment status, your tax bracket and your retirement target. We walk through them below, then you use the calculator for the actual number.
Every value cited with source. Verified on 21 May 2026.
Guaranteed rate 2026
1.00 %
Source: DAV / DeckRV § 2
Riester base subsidy
€175/year
Source: EStG § 84
Riester child subsidy
€300/year
Source: EStG § 85
Basisrente maximum
€29,344 / €58,688
Source: EStG § 10 (3)
Statutory pension cap
€8,450/month
Source: BMAS 2026
Basisrente deduction
100 %
Source: EStG § 10 (3) S. 4–6
Three ways to build a private pension. They differ in tax treatment, flexibility and payout mode. Here is the sober side-by-side.
Classic or unit-linked. You save freely and receive a guaranteed lifelong pension. No state subsidy, but full control over premium, retirement date and payout form.
Legal basis: Tariff terms under VVG § 60 (1) S. 2 / § 169
Base subsidy €175 per year plus €300 per child born from 2008. Contributions up to €2,100 are tax-deductible. The trade-off: lifelong annuity payout and limited capital options.
Legal basis: EStG §§ 79 ff., § 10a
Contributions up to €29,344 (singles) or €58,688 (jointly assessed couples). Since 2023, 100 % deductible as special expenses. Payout only from age 62, strictly monthly annuity, no lump-sum option.
Legal basis: EStG § 10 (1) Nr. 2 b, AltZertG § 5a
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Who are the dominant private pension providers? The ranking comes from the GDV report “Die deutsche Lebensversicherung in Zahlen 2024” and measures gross written premiums. Market share is not tariff quality; treat this as orientation, not a recommendation.
| Insurer | 2024 market share | What sets them apart |
|---|---|---|
| Allianz Lebensversicherungs-AG | 26.57 % | Germany’s largest life insurer, broad tariff portfolio from classic to unit-linked. |
| Generali Deutschland Leben | 9.02 % | Italian parent company, unit-linked tariffs with ETF selection. |
| R+V Lebensversicherung | 8.04 % | Cooperative roots, classic tariffs with high surplus participation. |
| AXA Lebensversicherung | under 8 % | Solid blend of classic and fund-based, popular with self-employed clients. |
Source: German Insurance Association (GDV), “Die deutsche Lebensversicherung in Zahlen 2024”. Shares measured by gross written premiums.
Tax treatment varies sharply between the three routes. Here are the key 2026 figures with statute references so you can verify the wording yourself.
The total deduction ceiling for retirement provision (statutory pension plus Basisrente) is €30,826 (singles) or €61,652 (jointly assessed) in 2026 under EStG § 10 (3).
The maximum guaranteed interest rate has been 1.00 % since January 2025, the first increase in more than three decades. DAV confirmed the same level for 2026. What does that look like in practice?
It is not a promise of 1.00 % on your full premium. The rate applies only to the savings portion. Acquisition and administration costs are deducted from the gross premium first. If you pay €100 per month and €90 of that goes into savings, the guarantee is 1.00 % on €90.
Surplus participation can lift the total return. Insurers forecast a combined return of 2 to 2.5 % per year depending on investment performance. The guarantee covers only the one percent; the rest depends on the asset side.
Unit-linked policies have no guaranteed rate. The outcome depends on the fund. Higher chances, higher risks; no minimum return is promised.
German private pension insurers are supervised by BaFin under VAG §§ 89, 215, 294. They follow the European Solvency II requirements from Directive 2009/138/EC and file quarterly solvency reports.
If a provider runs into trouble despite all that, Protektor Lebensversicherungs-AG takes over the contracts as a protection scheme under VAG § 221 ff. Guaranteed benefits are continued; ongoing pensions keep being paid.
Independent reviews are published by Stiftung Warentest and Finanztip. Both publish independent tariff tests for private pension insurance and work without commissions.
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