Retirement in Germany with an Altersvorsorgedepot
An Altersvorsorgedepot is a private retirement investment account that providers can offer from 2027. You can invest in products such as ETFs and other funds. Eligible savers can receive government allowances and tax benefits.
How does an Altersvorsorgedepot differ from the statutory pension?
The statutory pension is Germany’s public pension system. An Altersvorsorgedepot is a voluntary private investment account where you build your own retirement savings. It is designed to provide additional retirement income. Government support depends on legal eligibility requirements, including your employment or insurance status. German citizenship is not required.
How can my retirement savings grow?
If you qualify, government allowances boost your own payments. Investment returns are not taxed during the saving phase, so more money stays invested and can earn further returns. Taxation is deferred until you receive payouts. How much you build up depends on your contributions, time invested, investment performance and costs. The value of your investments can fluctuate and losses are possible.
When can I access my savings?
Your savings are generally tied up until retirement. Payouts normally start between ages 65 and 70. The options are a lifelong pension or a payout plan lasting at least until 85, with payments that can change over time. Depending on your contract, up to 30% can be paid as an initial lump sum. Payouts are generally subject to income tax. This calculator assumes a start at 67 and models the payout plan, not a lifelong pension.
Saving phase
Person
Age in the start year 2027 is 30At least 37 full investment years until age 67
Contribution
Maximum allowance reached
No tax on gains during the saving phase. This lets your investment account grow more.
Income & children
For each child with an entitlement to child benefit (Kindergeld), you get as much child allowance as you pay in yourself, up to €300 a year. This requires at least €120 of your own contributions a year.
Assumptions
Result
Text version of the chart. Total wealth grows from age 30 to age 67, reaching €485,192. Of this, €86,580 is paid-in capital.
Text version of the chart. Breakdown of the account value of €485,192.
The actual refund may differ significantly.
Retirement
Payout
You can take up to 30% of the capital as a lump-sum withdrawal (equal to €145,557).
28 years from the start of retirement at age 67
The monthly payment is recalculated every 3 years based on the account value.
* Model value based on the assumed return, not a guaranteed payout. Payments are recalculated every 3 years from the remaining account value and can rise or fall. The remaining capital is paid out with the last payment.
Deferred taxation applied. Basic tax-free amount (Grundfreibetrag) taken into account. Here, 100.0% of the statutory pension is taxable (pension start in 2064). Pension increases and deductions are not taken into account.