Wohn-Riester: why this case is different
Wohn-Riester (home-ownership pension) works fundamentally differently from a Riester savings contract: the subsidised capital is tied up in the property or the building-society loan. That is why the transfer rules do not map one to one.
Three constellations
| Constellation | Where the capital is | Transfer status |
|---|---|---|
| Riester building-society contract in the savings phase, not yet used for housing | As a balance at the building society | Transferable retirement capital exists; the general transfer rules apply |
| Capital withdrawn or loan being repaid (housing subsidy account running) | In the property; the housing subsidy account at the tax office records the subsidised amounts | No balance that could be transferred. Publications contradict each other on whether and how the housing subsidy account is carried into the new system |
| Property sold, housing subsidy account exists | Subsidy must be reinvested or taxed | Reinvesting into an Altersvorsorgedepot is discussed in specialist articles; no confirmed administrative rule yet |
What the housing subsidy account is
A notional account at the tax office collecting all allowances and tax-subsidised contributions used for the property. It is credited with 2% interest per year and taxed downstream from retirement – either spread until age 85 or in one go with a 30% discount. This taxation remains regardless of the reform.
What the new system provides
The Altersvorsorgedepot allows a subsidy-neutral withdrawal for owner-occupied housing and energy-efficient renovation. Unlike Wohn-Riester, this function is not mandatory for every provider. Anyone who wants to use the account capital for a property later can check whether the provider offers the housing withdrawal.
Quick answers
I have a Riester building-society contract but have withdrawn nothing. Does the transfer apply?
Under the general rules yes – it is retirement capital. The building society can confirm which transfer value it applies.
What happens to my housing subsidy account if I do nothing?
Nothing changes. It continues to accrue interest and is taxed from retirement as before.
What you can check now
- Has capital already been withdrawn from your contract for housing purposes?
- What is the balance of your housing subsidy account according to the tax office's last notice?
- Does the provider you are considering offer the housing withdrawal in the Altersvorsorgedepot?
- 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
- § 92a Income Tax Act (housing subsidy account), 2026
- Specialist articles on Wohn-Riester transfers, May to June 2026 (contradictory)
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.