Business · Companies · 11 hrs ago
ING plans fee-free retirement savings accounts from 2027
Germany’s ING plans to launch a government-supported retirement savings account from early 2027.
The country’s largest direct bank will offer two options, both without account-management, transfer or trading fees.
The self-directed option lets customers choose from a range of funds and ETFs, with total annual costs starting at 0.03%.
The standard option uses two globally invested ETFs selected and actively managed by ING, and costs 0.2% a year.
Both options will allow monthly savings plans from €10 with no execution fees.
The state-backed scheme offers annual allowances of up to €540, with up to €300 more for each child, and savings growth is taxed when withdrawn.
ING is entering a crowded market as banks and digital brokers compete on fees, and people with Riester contracts can transfer their savings into the new system.
ING plans to offer government-supported retirement savings accounts in Germany from early 2027.
Both account options will have no custody, switching or order fees.
Customers can choose their own funds and ETFs, or use a standard account built from two actively managed ETFs.
Savings plans will be available in both options from €10 a month, without execution fees.
The government-supported scheme offers annual allowances and tax-free growth during the saving phase.
- Who
- ING, Germany’s largest direct bank, with more than 10 million private customers.
- What
- It plans to offer two government-supported retirement savings account options without custody, switching or order fees.
- When
- From early 2027.
- Where
- Germany.
- Why
- The accounts are intended to help customers save for retirement through funds and ETFs while receiving government allowances.
This story does not have two clearly opposing sides.
ING announced the terms of its planned retirement savings accounts.
ING plans to begin offering the accounts.
- Launch
- Early 2027
- Account options
- Two
- Self-directed option
- Total costs start at 0.03% per year
- Standard option
- 0.2% per year
- Monthly savings plans
- From €10, with no execution fees
What people are saying
Retirement provision does not have to be the same for everyone, but it must be easy for everyone to get started.