In short
A guarantee promises you that a fixed part of the money you paid in will safely be there at the end. In return, your money can usually grow less strongly.
Last checked: 11 October 2026 · 4 min read · RenteKannMehr editorial team
Now in more detail
A contribution guarantee (Beitragsgarantie) means: at the start of the payout, at least a fixed part of the contributions and allowances paid in is available – no matter how the markets have performed.
Why guarantees cost return
To be sure of meeting a guarantee, the provider has to put a large part of the money into very safe, low-interest investments. Only the rest can be invested for higher possible returns. The higher the guarantee and the lower interest rates are, the smaller this rest. With the Riester pension the full contribution guarantee was compulsory – this is regarded as one reason for returns that were often disappointing.
The choice from 2027
| Option | Guaranteed at the start of the payout | Share invested for higher returns |
|---|---|---|
| Retirement savings account (Altersvorsorgedepot) / standard account (Standarddepot) | nothing | highest |
| Guarantee product 80% | 80% of the contributions and allowances | medium |
| Guarantee product 100% | 100% of the contributions and allowances | lowest |
What a guarantee does not do
- It applies at the start of the payout – not if you cancel early.
- It is nominal: it does not make up for the loss of purchasing power through inflation.
- It says nothing about how high the return above the guarantee will be.
How you can weigh it up
The longer the investment period, the more time there is to sit out temporary falls in prices. People who have only a few years left until retirement, or who cope badly with ups and downs, often give more weight to security. There is no one right answer for everyone.
More questions?
If you have more questions, talk to a personal adviser near you. They can look at your situation in detail. Asking is free and without obligation.