(2023) How much do I need to save annually to receive the Riester bonus?

The government supports Riester contracts with bonuses and tax advantages. The basis of the Riester funding is the basic bonus for the saver and, if applicable, their spouse. The amount of the basic bonus depends on the savings amount. To receive the full funding, you must save four per cent of the previous year's income subject to social insurance contributions, but at least the minimum amount of 60 Euro. For civil servants, salary and official remuneration are decisive.

If you save less, you will receive a lower bonus. If you are temporarily not liquid, you can suspend your Riester contract, but you will not receive any government funding. Non-eligible spouses can receive the basic bonus if they have their own Riester contract and pay in at least the minimum amount of 60 Euro.

The following calculation for a family with two children shows the effect of the funding:

The gross family income is 40.000 Euro in the year 2022. For the full funding, at least 1.600 Euro must be paid into the Riester contract in the year 2023.

The government helps with the basic bonus of a total of 350 Euro for both spouses.

In addition, there is the child bonus of 185 Euro per child (born before 2008) or 300 Euro per child (born from 2008). For 2 children (born before 2008), this amounts to 720 Euro in government bonuses that the family is entitled to annually. These are deducted from the minimum savings amount of 1.600 Euro, so the family only needs to contribute 880 Euro themselves in the year 2023. If the personal contribution is lower, the funding will be reduced accordingly.