Who is eligible for the career starter bonus?
A Riester pension plan is particularly attractive for young savers. In addition to the regular funding, there is a one-off bonus of 200 Euro for career starters up to the age of 25. This bonus has been automatically granted together with the basic allowance since 2008.
Requirements for the career starter bonus
- Age: You must not be older than 25 at the time of signing the contract.
- Eligibility: You must meet the requirements for Riester funding, e.g. be in employment subject to social insurance contributions.
- No separate application: The bonus is automatically applied for through the basic allowance application.
Example calculation
In the first year, young savers receive the following state funding:
- Basic allowance: 175 Euro
- Career starter bonus: 200 Euro
- Total funding: 375 Euro
Note: The state funding reduces your own minimum savings contribution, as the allowances are paid directly into your Riester contract.
Conclusion
The career starter bonus rewards young savers with an additional 200 Euro funding. This makes starting a Riester pension particularly attractive and helps to build up capital for retirement at an early stage. Make sure to use the bonus in time, as it is only available until the age of 25.
