Kapitalgedeckte Altersvorsorge: Welche Chancen und Risiken birgt die Frühstart-Rente?

Haupt Marlene and Kerkhoff Martin

Wirtschaftsdienst, 2025, vol. 105, issue 5, 361-367

Abstract: This article analyses the “Frühstart-Rente” (early start pension), a funded pension scheme outlined in the 2025 coalition agreement of CDU, CSU, and SPD. The concept proposes state contributions initiated in early childhood from ages 6 to 18. While promising substantial long-term returns and enhanced financial literacy, the concept raises concerns regarding design and social equity, particularly the risk of regressive effects and limited uptake among low-income households. Challenges include product selection, cost control, default structures, and behavioural incentives for sustained saving. The paper evaluates policy options and delineates conditions under which the “Frühstart-Rente” could evolve into an effective additional third-pillar pension scheme.

JEL-codes: H55 J11 J26 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:wirtsc:v:105:y:2025:i:5:p:361-367:n:1014

DOI: 10.2478/wd-2025-0092

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