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Union Investment Altersvorsorgedepot: costs, variants and terms

Union Investment (Volks- und Raiffeisenbanken) has announced 3 products for the Altersvorsorgedepot (Germany's new state-subsidised retirement investment account): UniVorsorge Basis, UniVorsorge Pro, UniVorsorge Garantie. This page lists everything Union Investment has published about it so far, with the source and the time we retrieved it.

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Before launch

Early registration: NoneSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

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UniVorsorge Basis

Variant not announced

Costs

Total cost p.a.: not yet published; according to Union 'well below' the 1% cost capannouncedSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:Account or contract feeFund costs (TER)Refund of fund costsFront-end loadSavings plan feeFee for purchases and salesDepends on pricing planCost of switching providerCosts in the payout phase

Investment

Who decides on the investment: Equity/bond ETF split set by the customer (up to 100% equities); life-cycle model before retirementSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Growth component: active global equity ETF (Quoniam; name/ISIN not yet published)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Low-risk component: active bond ETF (Quoniam; name/ISIN not yet published)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Initial allocation: chosen by the customer, equity share up to 100%Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Shift before retirement: 5 years before retirement equity share cut to 50%, 2 years before to 30%Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Investment choice: 2 active ETFs (equities + bonds)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Contribution guarantee: NoneSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Contributions and switching

Minimum contribution: €120 p.a. minimum own contribution for the subsidy (statutory); product-specific minimum instalment not statedSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Pausing contributions: Contributions adjustable at any time (contribution pause not explicitly mentioned)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Riester transfer: transfer of Riester savings into the AVD possible from 1.1.2027 (final); costs not statedSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:Lump-sum paymentsAllowance application

Payout

Drawdown plan: Drawdown plan until the 85th birthday; allocation from the end of the accumulation phase stays invested; 30% lump-sum withdrawal possibleSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Life annuity: No – Union Investment may not offer a life annuity; switching to an insurer at the start of the payout phase is provided for by lawSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:Withdrawal for owner-occupied property

Opening an account

How to sign up: personal advice at Volks- und Raiffeisenbanken (exclusive to cooperative banks)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Start: 1 January 2027Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Special features: active instead of passive ETFs in the Standarddepot; 'further product details to follow'Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:RequirementsCertification

UniVorsorge Pro

Self-directed accountSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Costs

Total cost p.a.: not yet published; 'mid-price range, cheaper than Riester'announcedSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Investment

Who decides on the investment: managed (actively managed equity fund portfolio, end-of-term management)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Shift before retirement: Maturity management from 10 years before retirementSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Contribution guarantee: NoneSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:Growth componentLow-risk componentInitial allocationInvestment choice

Contributions and switching

Minimum contribution: €120 p.a. minimum own contribution for the subsidy (statutory); product-specific minimum instalment not statedSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Pausing contributions: Contributions adjustable at any time (contribution pause not explicitly mentioned)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Riester transfer: transfer of Riester savings into the AVD possible from 1.1.2027 (final); costs not statedSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:Lump-sum paymentsAllowance application

Payout

Drawdown plan: Drawdown plan until at least the 85th birthday, still invested in the capital marketSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Life annuity: No – Union Investment may not offer a life annuity; switching to an insurer at the start of the payout phase is provided for by lawSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:Withdrawal for owner-occupied property

Opening an account

How to sign up: personal advice at Volks- und Raiffeisenbanken (exclusive to cooperative banks)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Start: 1 January 2027Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:RequirementsCertificationSpecial features

UniVorsorge Garantie

With guaranteeSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Costs

Total cost p.a.: not yet published; 'mid-price range'announcedSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Investment

Who decides on the investment: managed (balanced global equity and bond portfolio)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Growth component: global equity portfolio (funds not yet published)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Shift before retirement: Investment mechanism (CPPI) to secure the 100% guarantee at the start of the payout phaseSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Contribution guarantee: 100% of contributions and allowances at the end of the accumulation phaseSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:Low-risk componentInitial allocationInvestment choice

Contributions and switching

Minimum contribution: €120 p.a. minimum own contribution for the subsidy (statutory); product-specific minimum instalment not statedSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Pausing contributions: Contributions adjustable at any time (contribution pause not explicitly mentioned)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Riester transfer: transfer of Riester savings into the AVD possible from 1.1.2027 (final); costs not statedSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:Lump-sum paymentsAllowance application

Payout

Drawdown plan: Drawdown plan until at least the 85th birthdaySource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Life annuity: No – Union Investment may not offer a life annuity; switching to an insurer at the start of the payout phase is provided for by lawSource ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:Withdrawal for owner-occupied property

Opening an account

How to sign up: personal advice at Volks- und Raiffeisenbanken (exclusive to cooperative banks)Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)
Start: 1 January 2027Source ↗ · retrieved 21 October 2026 at 13:43 (Berlin time)

Not yet published:RequirementsCertificationSpecial features

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Legal notice

This article is for general information and reflects the position at the time of publication. It does not constitute investment advice, investment brokerage, tax advice or legal advice.

The study results, scenarios, model calculations and diagnostic questions presented here are no substitute for an assessment of your personal circumstances. Whether a retirement product suits you, and whether changing an existing Riester contract is advantageous, depends on your individual contract terms, financial goals and personal situation.

Depending on the product and the subject of the advice, different regulatory permissions may be required, for example under § 34d, § 34f or § 34h GewO. Capital investments carry risk. Past performance is not a reliable indicator of future results.

We cannot guarantee that the information on this page is current, accurate or complete. You will find all up-to-date product and price information on the respective providers' own websites. You can see how we award points for each individual condition in our scoring overview. We highlight the highest-scoring providers as top recommendations at the start of the page.

English translation: This is a convenience translation. Vorsorgedepot-Lotse is a German provider and the German version of this page is the legally binding text; in the event of any discrepancy, the German wording prevails. View the German version.

As at: 21 October 2026.