The €150 rule: what the transfer may cost and what it may not
The law caps the costs of the transfer on both sides. What is allowed, what is not, and why the rule works differently for old and young contracts.
At the previous provider
| Contract age at transfer | Permitted switching costs |
|---|---|
| Less than 5 years | at most €150 |
| 5 years or more | €0 |
What counts is the contract age at the time of the transfer, not at the turn of the year. A contract signed in spring 2022 is five years old in spring 2027; a transfer after that is free of charge, before it the provider may charge up to €150.
At the new provider
- For accepting the transferred capital at most €150 may be charged.
- Acquisition and distribution costs on the transferred, subsidised capital are not permitted. That is the difference to a classic new contract.
- The ongoing costs of the Altersvorsorgedepot are separate. For standard accounts a statutory cost cap of 1% per year applies; for freely composed accounts the providers' price lists apply.
What the rule does not cover
- Acquisition costs already paid on the old contract. For insurance contracts they were offset in the first years and are not refunded – neither on transfer nor on continuation.
- The difference between balance and transfer value for insurance contracts. This is not a switching fee but a valuation question. Separate page.
- Fund costs and account fees in the new account – you pay those on an ongoing basis, as in any securities account.
Quick answers
Can the old provider refuse or delay the transfer?
It does not have to consent. There are no administrative rules yet on processing deadlines; we collect experience values from 2027 in the provider database.
Does the cap also apply to transfers between two Altersvorsorgedepots?
The €150 limits apply to provider switches within the new system as well.
What you can check now
- Contract start according to the policy or first statement: when does the contract turn five?
- What transfer value does your statement show?
- What does the price list of the provider you are considering say about accepting transferred balances?
- Retirement Provision Reform Act (Altersvorsorgereformgesetz), Bundestag 27 March 2026, Bundesrat 8 May 2026, promulgated 26 May 2026 (BGBl. 2026 I No. 156)
- Federal Ministry of Finance, FAQ on the reform of private pension provision
This page provides general information about statutory rules. It is not legal, tax or investment advice and makes no recommendation for any individual contract. For a personal assessment, consumer advice centres (Verbraucherzentralen) or licensed advisers are the right address – where to get advice.