Laser interferometric readout systems with 1pm √Hz precision over long time scales have successfully been developed for LISA and LISA Pathfinder. Future gravitational physics experiments, for example in the fields of gravitational wave detection and geodesy, will potentially require similar levels of displacement and tilt readouts of multiple test masses in multiple degrees of freedom. In this article we compare currently available classic interferometry schemes with new techniques using phase modulations and complex readout algorithms. Based on a simple example we show that the new techniques have great potential to simplify interferometric readouts.