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The New Retirement Investment Account: Enormous Potential for Financial Services Providers – and Major Challenges

NEWS 02/2026

The reform of the Pension Provision Certification Act (AltZertG), which came into force on 1 June 2026, is set to bring about changes in private retirement provision. From 1 January 2027, banks, insurance companies and asset managers will be able to offer a new Retirement Investment Account (AVD).
Torsten KusmanowTorsten Kusmanow
is Executive Partner and responsible for the Banking Customer Interactive Solutions division, which deals with digital, customer-centric solutions for the financial industry. The focus is on solutions for customers and advisors. He is also the author of the white paper ‘What makes a successful bancassurance?’, published in 2024.
28/07/26
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3 minutes reading time
Business Models, Future Banking, Strategy
The New Retirement Investment Account: Enormous Potential for Financial Services Providers – and Major Challenges

The reform of the Pension Certification Act (AltZertG), which came into force on 1 June 2026, is set to bring about changes in private pension provision. Banks, insurance companies and asset managers should mark 1 January 2027 in their diaries today. From that date, they will be able to offer the new Retirement Investment Account (AVD) – a modern product capable of competing with traditional investment account solutions.

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