8 May

Wednesday, the 20.09.17 , written by Anja Schlicht With the Riester pension savers can put on funds or on a guaranteed interest. The fund-based offers offer higher returns than classic Riester pensions. However, there is the risk of receiving only enough money to start the pension as was paid. Which

Riester-Rente im Test: Mit Fonds oder klassisch vorsorgen?

Riester pension: Put on funds or prefer to make a classic?

  • Stiftung Warentest has examined classic Riester pensions as well as unit-linked tariffs and Riester fund savings plans.
  • The Riester pension with guaranteed yield hardly convinces in the test, with the fund-based offers interested parties must pay particular attention to the costs.
  • In order to find the best individual state-subsidized pension plan, we recommend a tailor-made offer for the Riester pension.

A higher basic allowance and an allowance in old age, if the insured depend on social benefits in old age – with the Riester pension, a lot has recently been done to make state-subsidized old-age provision more attractive again. But even politics can do little to counter the sinking guaranteed interest rate. Accordingly , the pension payments that the providers of traditional Riester pensions with guarantee interest can promise their customers are correspondingly low .

A Riester pension based on funds, on the other hand, offers better earning potential . Although savers do not initially know how much their retirement pension will be. But since at least the paid contributions are guaranteed, this variant offers a good mix of security and opportunity.

Riester fund savings plan and fund-linked Riester pension in the test

Stiftung Warentest has audited eleven Riester fund savings plans and 16 unit-linked Riester pensions for the latest issue of Finanztest (10/2017). Unlike the traditional tariffs, which were also part of the Riester pension test, the consumer organization did not award grades. Nevertheless, it becomes clear that the costs of the contract have a decisive influence on how good or bad a provider is . Because “the strategy may still be so sophisticated – if the product is too expensive, there is not enough left”, so Stiftung Warentest.

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Riester with funds: These providers are recommended according to Stiftung Warentest

Interested parties who invest in the Riester pension funds have various options to choose from. Should the entire savings contributions flow into funds , a fund savings plan is recommended. Where the money goes exactly, however, customers can rarely determine. This is different in a unit-linked Riester pension. Depending on the provider, insured persons have the choice between more than 100 funds. However, not all the deposits are invested. The majority ends up in a guarantee fund or in the insurance company’s security.

Both the Riester fund savings plan and the unit-linked Riester pension allow savers to take varying degrees of risk . To give them an idea of ​​how the ratio of return opportunity and risk is, the tariffs are grouped into Opportunity Risk Classes (CRK) 1 to 5. In class 4, for example, there is a higher chance of yield than in class 2. However, there is a higher risk of not getting more than paid contributions and allowances at the end.

With the fund savings plans Stiftung Warentest can recommend the offers UniProfiRente, UniProfiRente Select, Sutor Fairriester 2.0 as well as DWS TopRente Balance and DWS RiesterRente Premium Balance . For unit-linked rates, the following fares have the lowest effective cost. The overview also shows the best fund alternative from the perspective of the testers.


  • HanseMerkur “Riester Care Invest” – ValueInvest Global (LU 013 559 050 4)
  • Alliance “Riester Pension InvestFlex” – ComStage MSCI World (LU 039 249 456 2)


  • Volkswohl Bund “AWR” – iShares MSCI Word (IE 00B 0M6 2Q5 8)
  • Stuttgart “Riester Pension Performance Safe” – iShares Core MSCI World (IE 00B 4L5 Y98 3)

Tip: You can not just provide with the Riester pension for old age. However, with other options such as a private pension insurance, the state allowances of 154 euros per year (from 2018 175 euros) escape you. Which private old-age provision – whether subsidized or unsupported – fits best to your wishes and to your wallet, can be found with a non-binding offer for your pension options.

Classic Riester pension in the test: much security with low pension payment

For the current financial test Stiftung Warentest also felt the classic Riester pension on the tooth. The testers came from a 30-year-old model customer, who pays about 87 € every month. Together with the basic allowance, the amount that flows into the contract annually adds up to 1,200 euros.

All nine insurers accounted for do not come out on top of a satisfactory rating . “Riester Care Classic (ARS1U)” from Allianz best comes off best in front of “Riester Care (RA 2017S)” from HanseMerkur . Both guarantee a pension of 102 euros or 106 euros per month. However, the information only relates to the paid-in contributions. The allowances received were not taken into account by Stiftung Warentest. Therefore , the guaranteed pension still increases . If you are not interested in additional services, as assumed in the test, the monthly payment increases again.

  • Here are some tips and more information about the Riester pension. >
  • Anja Schlicht
  • editorial staff

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