(2025) How do I take out a Riester pension plan?

First of all, you should inform yourself about the different investment options. What best suits your personal risk tolerance? Once you know which form of Riester pension you want to invest in, you should look for a good product. Only products with a certificate from the Federal Financial Supervisory Authority are suitable.

However, the certificate does not indicate the quality or return of an offer. It only tells the saver that the relevant product is eligible for Riester funding. You can consult various tests in magazines or on the internet, or seek advice from a consultant. You should also ask an insurance company or bank to calculate the possible return without obligation and, of course, inquire exactly about the costs involved (e.g. initial fees).

Once you have made your decision, you should make an appointment with the bank or insurance company and take your time to review the documents there, making sure to clear up any uncertainties by asking specific questions. Where you take out a Riester pension contract naturally depends on the type of investment. Once you have decided whether you want to take out a traditional pension insurance, an investment fund savings plan or a bank savings plan, you should go to an insurance company or their agent, or to a bank.

If you wish to invest in Wohn-Riester, contact a building society. However, the bank savings plan as a Riester variant is currently only offered by a few banks.