Can I have my Riester-Rente paid out at 60?

Only if your Riester contract was signed before 1 January 2012. For these older contracts, § 14 Abs. 2 AltZertG allows the payout phase to begin from age 60. Contracts from 2012 onwards start at 62 at the earliest, unless a statutory old-age pension begins earlier. On top of that, the payout start agreed in your contract documents is decisive.

How much of my Riester-Rente can I have paid out in one go?

At the start of the payout phase you may take up to 30 percent of the available capital as a lump sum without having to repay allowances or tax advantages. The rest flows into the lifelong pension. Contracts signed up to the end of 2004 sometimes allow only 20 percent, so it pays to check your documents.

Do I have to pay tax on the 30 percent payout of my Riester-Rente?

Yes. The lump sum is fully taxable in the year it is paid, to the extent it stems from subsidised contributions and allowances, because Riester contributions were subsidised in the accumulation phase and taxation is deferred. If the payment falls in a year with high other income, the personal tax rate on this amount rises.

Does the one-fifth rule apply to the Riester partial payout?

The law grants the reduced taxation under § 34 Abs. 1 EStG expressly only for the settlement of a Kleinbetragsrente (§ 22 Nr. 5 Satz 13 EStG). For the regular 30 percent partial capital payout, the law contains no such provision. Whether relief can apply in an individual case is for the tax office to decide.

Does the partial payout lower my monthly Riester-Rente?

Yes. After the lump sum only the remaining capital is annuitised, so the monthly payments are correspondingly lower and stay lower for good. How far the pension falls depends on the annuity factor, your age at the start and the product type; there is no general rule of thumb.

What is a Riester Kleinbetragsrente?

A Kleinbetragsrente applies when the monthly payment is 59.33 euros or less. In that case the entire pension can be settled in one go without repaying allowances or tax advantages. The payout is taxable in the year it is received, but at the reduced rate under § 34 Abs. 1 EStG.

Does the 30 percent rule also apply to the new Altersvorsorgedepot?

Yes. The Altersvorsorgereformgesetz keeps the rule unchanged: up to 30 percent of the capital can be taken at the start of the payout phase without losing the subsidy. New contracts from 2027, however, start the payout phase at age 65 at the earliest, while existing Riester contracts keep their previous age limit. Anyone who opens an Altersvorsorgedepot from 2027 does, however, bring all their Riester contracts under the new subsidy rules (§ 52 Abs. 50a Satz 6 EStG).

Riester payout at 60: when taking 30 percent pays off

Tilman Freyenhagen

Published on 19 October 2026 · Managing Director & Partner, Alsterspree Verlag GmbH

This article was written by an author with the support of AI.

Illustration: a saver checks the partial payout of her Riester-Rente with her contract documents and a calculator before retiring · AI-generated

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Key takeaways

• Payout from age 60 only for contracts signed before 1 January 2012 (§ 14 Abs. 2 AltZertG); newer contracts from age 62 at the earliest. • Up to 30 percent of the capital can be taken out at the start of the payout phase without losing the subsidy; contracts signed up to the end of 2004 sometimes allow only 20 percent. • The lump sum is fully taxable in the year it is paid out, to the extent it stems from subsidised contributions and allowances; the law grants the reduced rate under § 34 EStG only for the settlement of a Kleinbetragsrente. • After the partial payout only the remaining capital is annuitised, so the monthly pension stays permanently lower. • The Altersvorsorgedepot keeps the 30 percent rule, but new contracts from 2027 start the payout phase at 65 at the earliest; a new contract from 2027 also ends the grandfathering of all Riester contracts (§ 52 Abs. 50a Satz 6 EStG).

Who can take a Riester payout at 60?

A Riester payout from your 60th birthday is only possible if you signed your contract before 1 January 2012; for every contract signed later, the payout phase can begin at age 62 at the earliest, or with a statutory old-age pension that starts before then.^[2] The legal basis is § 14 Absatz 2 AltZertG, the transitional provision of the certification act.^[1] Contracts signed before 2012 keep the old age limit of 60; all newer contracts are subject to the raised limit of 62.

Contract signed	Earliest start of the payout phase
before 1 January 2012	On reaching age 60[1]
on or after 1 January 2012	On reaching age 62[2]

The contract date is only half the picture. What also counts is the start of the payout phase agreed individually in your contract documents. According to the Deutsche Rentenversicherung, a Riester-Rente generally starts between the ages of 60 and 68; the earliest pension start is recorded in your contract documents and forms part of the contract terms.^[3] A contract from 2010 may therefore, as agreed, only start paying at 65, even though the law would allow 60.

Contract date: shown on the policy document or contract copy as the date of signing or contract start.
Agreed payout start: shown in your contract documents and contract terms.
If in doubt: ask your provider for the earliest possible start of the payout phase.

So check the contract date first and the agreed age limit second. Only when both line up does the question arise of how much capital you may take out in one go. For an overview of all payout routes and deadlines, see our guide to Riester-Rente payouts.

How much can you take out in one go?

At the start of the payout phase you may have up to 30 percent of the Riester capital then available paid out in one go, separately from the monthly payments. § 1 Absatz 1 Satz 1 Nummer 4 AltZertG says so explicitly: up to 30 percent of the capital available at the start of the payout phase may be paid out to the contract holder without putting the subsidy at risk.^[2]

Timing: the 30 percent rule applies only at the start of the payout phase. Later, once the monthly pension is running, no further partial capital withdrawal is provided for.^[2]
Amount: what counts is the capital actually available at the start of the payout phase, including allowances and returns.
Remaining capital: the balance flows into the lifelong Riester-Rente, which is paid monthly. A full payout without losing the subsidy exists only in the special case of a Kleinbetragsrente (a very small pension).^[3]

There is a practical caveat for older contracts: the Verbraucherzentrale (consumer advice centre) points out that contracts signed up to the end of 2004 sometimes allow a partial payout of only 20 percent.^[6] The 30 percent in the law is only the ceiling; what your own contract allows is set out in its terms. If in doubt, ask your provider before you plan a withdrawal.

How much tax does the partial payout cost?

The lump sum is fully taxable in the year you receive it. BaFin (the federal financial supervisor) leaves no doubt about this: anyone who takes up to 30 percent of the capital as a lump sum when the pension starts has to pay tax on the full amount.^[4]

Legal basis: § 22 Nr. 5 EStG makes Riester benefits subject to deferred taxation; how much is taxed depends on the extent to which contributions in the accumulation phase were subsidised through the Sonderausgabenabzug (deduction as a special expense) or allowances. Where capital stems from unsubsidised contributions, that part is taxed differently under § 22 Nr. 5 Satz 2 EStG.^[5] The Verbraucherzentrale adds that the later pension is subject to income tax in full.^[6]
No relief provided: the law grants the reduced taxation under § 34 Abs. 1 EStG expressly only for the settlement of a Kleinbetragsrente (§ 22 Nr. 5 Satz 13 EStG). No such relief is provided for the regular 30 percent partial payout.^[5]
In practice: the whole lump sum is added to your other income in the year it is paid and can push up your personal tax rate.

The year of payment is therefore the decisive lever. If the lump sum lands in a year with a high salary, extra income or pension payments already running, every additional euro is taxed at the top of your bracket. In a year with little other income, the tax on the same amount is noticeably lower. We explain how the Riester-Rente is taxed in general in our guide to taxation of the payout.

How much does the monthly pension fall afterwards?

After the lump sum, the monthly payments are permanently lower, because only the remaining capital is annuitised. The Deutsche Rentenversicherung puts it this way: because of the lump sum at the start, the monthly payments are correspondingly lower afterwards.^[3]

Step 1: after withdrawing up to 30 percent, only the remaining capital is available for annuitisation.
Step 2: the provider calculates the lifelong monthly pension or the drawdown plan from this remaining capital.
Step 3: the cut is permanent for as long as the pension is paid, and it also affects survivors' cover where that is funded from the same capital.

There is deliberately no rule of thumb, such as a fixed drop in the pension for each percentage point withdrawn. How far the monthly pension falls depends on your product's annuity factor, your age when the pension starts and the product type, that is, whether you hold a pension insurance policy, a bank savings plan or a fund savings plan with partial annuitisation. Only an individual quote is reliable: your provider can give you a pro forma calculation with and without the partial payout in advance.

For comparison: a Kleinbetragsrente applies when the monthly payment is 59.33 euros or less (2026; 1.5 percent of the monthly reference value under § 93 Abs. 3 EStG). You can then have the entire Riester-Rente paid out in one go without repaying tax advantages or allowances; this payout is also taxable in the year you receive it, but at the reduced rate under § 34 Abs. 1 EStG.^[3] For the regular partial payout: the larger the capital, the larger the lump sum in absolute terms for the same withdrawal share, while the later monthly pension is calculated from the correspondingly smaller remaining capital. The actual figures depend on the product.

Who does the withdrawal pay off for?

The trade-off is between two things: your tax rate in the year of payment and your lasting need for pension income. Both routes, leaving all the capital in the pension or taking part of it as a lump sum, are equally valid options; which one suits you better depends on your personal situation, not on a general rule.

These circumstances favour the partial payout

The payout starts before or shortly after you stop working, and the year of payment has little other income.
You have a concrete, specific use for the money, such as paying off a loan, a necessary purchase or a conversion in retirement.
By your own assessment, the remaining capital is enough to cover your monthly needs even after the cut.

These circumstances argue against the partial payout

The payment falls in a year with high earned income or pension payments already running, which pushes up your personal tax rate.
You depend on the full monthly pension and carry longevity risk, that is, the risk of a very long life.
Your contract allows only a 20 percent partial payout, and the tax cost is out of proportion to the amount withdrawn.

We recommend these checks for your own contract: establish the contract date and the agreed payout start, look up the permitted withdrawal share in the terms, ask your provider for a pro forma calculation with and without the partial payout, and choose the year of payment so that your personal tax rate stays low. Whether you keep the contract or switch to the new Altersvorsorgedepot (the new state-subsidised retirement investment account) is a separate decision, which we set out step by step in our article on keeping or switching your Riester contract.

Does the 30 percent rule also apply to the Altersvorsorgedepot?

Yes. The Altersvorsorgedepot, which joins the Riester-Rente from 2027, keeps the rule unchanged: up to 30 percent of the capital available at the start of the payout phase can be paid out separately from the monthly payments without losing the subsidy. The Altersvorsorgereformgesetz promulgated on 29 May 2026 carries this rule over word for word^[7], and the 30 percent clause remains unchanged in § 1 Absatz 1 Satz 1 Nummer 4 AltZertG: up to 30 percent of the capital available at the start of the payout phase may be paid out to the contract holder separately from the monthly payments.^[2]

Contract group	Earliest start of the payout phase
Riester contracts before 2012	Age 60[1]
Riester contracts 2012 to 2026	Age 62[2]
New contracts from 2027, such as an Altersvorsorgedepot	Age 65[7]

So the difference lies not in the 30 percent but in the age limit: new contracts from 2027 start the payout phase at age 65 at the earliest and at 70 at the latest, while existing contracts from 2012 to 2026 stay at 62 and older contracts from before 2012 keep their familiar limit. For Riester contracts signed before 1 January 2027, the previous subsidy rules continue to apply until the payout phase begins; switching is not compulsory. This grandfathering ends uniformly for all your contracts, however, as soon as you irrevocably opt into the new law or sign another certified contract after 31 December 2026, such as an Altersvorsorgedepot (§ 52 Abs. 50a Satz 4 und 6 EStG).^[7] Our article on the payout options of the Altersvorsorgedepot describes the new account's payout options in detail, from the life annuity to the lump-sum withdrawal.

If the account's later age limit fits your plan, it is worth looking at specific providers: the Vorsorgedepot-Lotse provider comparison gives you a neutral, criteria-based comparison of Altersvorsorgedepot providers, including direct links to open an account, tailored to the situation this article has described.

Frequently asked questions

Can I have my Riester-Rente paid out at 60?: Only if your Riester contract was signed before 1 January 2012. For these older contracts, § 14 Abs. 2 AltZertG allows the payout phase to begin from age 60. Contracts from 2012 onwards start at 62 at the earliest, unless a statutory old-age pension begins earlier. On top of that, the payout start agreed in your contract documents is decisive.
How much of my Riester-Rente can I have paid out in one go?: At the start of the payout phase you may take up to 30 percent of the available capital as a lump sum without having to repay allowances or tax advantages. The rest flows into the lifelong pension. Contracts signed up to the end of 2004 sometimes allow only 20 percent, so it pays to check your documents.
Do I have to pay tax on the 30 percent payout of my Riester-Rente?: Yes. The lump sum is fully taxable in the year it is paid, to the extent it stems from subsidised contributions and allowances, because Riester contributions were subsidised in the accumulation phase and taxation is deferred. If the payment falls in a year with high other income, the personal tax rate on this amount rises.
Does the one-fifth rule apply to the Riester partial payout?: The law grants the reduced taxation under § 34 Abs. 1 EStG expressly only for the settlement of a Kleinbetragsrente (§ 22 Nr. 5 Satz 13 EStG). For the regular 30 percent partial capital payout, the law contains no such provision. Whether relief can apply in an individual case is for the tax office to decide.
Does the partial payout lower my monthly Riester-Rente?: Yes. After the lump sum only the remaining capital is annuitised, so the monthly payments are correspondingly lower and stay lower for good. How far the pension falls depends on the annuity factor, your age at the start and the product type; there is no general rule of thumb.
What is a Riester Kleinbetragsrente?: A Kleinbetragsrente applies when the monthly payment is 59.33 euros or less. In that case the entire pension can be settled in one go without repaying allowances or tax advantages. The payout is taxable in the year it is received, but at the reduced rate under § 34 Abs. 1 EStG.
Does the 30 percent rule also apply to the new Altersvorsorgedepot?: Yes. The Altersvorsorgereformgesetz keeps the rule unchanged: up to 30 percent of the capital can be taken at the start of the payout phase without losing the subsidy. New contracts from 2027, however, start the payout phase at age 65 at the earliest, while existing Riester contracts keep their previous age limit. Anyone who opens an Altersvorsorgedepot from 2027 does, however, bring all their Riester contracts under the new subsidy rules (§ 52 Abs. 50a Satz 6 EStG).

Sources

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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.

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: 19 October 2026.