The Altersvorsorgedepot Calculator shows how much state support you receive from 2027 with Germany’s new subsidised retirement depot (Altersvorsorgedepot, AVD), the capital you build up until retirement, and your net monthly payout after tax – side by side with a regular ETF savings plan.
What is the Altersvorsorgedepot?
The Altersvorsorgedepot is the state-subsidised private pension that replaces the Riester pension from 2027. You invest – without a mandatory contribution guarantee – for example in ETFs, and receive:
- Basic subsidy (Grundzulage): 50 cents per euro of own contribution up to €360 a year, then 25 cents per euro up to €1,800. At most €540 per year.
- Child subsidy (Kinderzulage): up to €300 per child per year. The full amount requires €300 own contribution (€25 a month).
- Career-starter bonus (Berufseinsteigerbonus): a one-off €200 if you sign before your 25th birthday.
- Special-expense deduction: own contributions up to €1,800 plus subsidies are tax-deductible. The tax office checks whether the tax saving exceeds the subsidies (Günstigerprüfung) and refunds the difference.
You qualify for subsidies from €120 own contribution per year (€10 a month). You can pay in up to €6,840 per contract per year, or €13,680 with two contracts – subsidies are only paid once.
How does the calculator work?
Basic inputs
- Age – under 25 the career-starter bonus is added.
- Income during the savings phase – your current taxable income; drives the tax saving.
- Income during retirement – your taxable retirement income without depot payouts (e.g. statutory pension).
- Contribution per year – with quick picks €120 (minimum), €1,800 (subsidy cap) and €13,680 (maximum).
- Lump sum at retirement – up to 30% of the capital.
- Children under 18 – with a birth year per child.
Advanced inputs
| Field | Default | Range |
|---|---|---|
| Retirement age | 67 | 65–70 |
| Expected ETF return (after TER) | 6% | > 0–20% |
| Altersvorsorgedepot costs (excl. TER) | 0.2% | 0–10% |
| Saver’s allowance | €1,000 | €0–1,000 |
| Use of the tax refund | pay into the AVD | AVD / separate depot / spend |
| Base rate (Vorabpauschale) | 0% | 0–10% |
| Transfer from a Riester contract | €0 | ≥ €0 |
| Payout until | 85 | 85–120 |
| Return during the payout phase | 3% | > 0–20% |
What do the results mean?
- Final capital – your Altersvorsorgedepot balance at retirement, including subsidies and returns, after costs. Optionally compare its growth with the ETF savings plan as a chart or table.
- Support – basic subsidy, child subsidy, career-starter bonus and additional tax saving in the first year, plus totals across the savings phase.
- Monthly payout – net amount per month in a regular payout year, for the AVD and the ETF savings plan.
- Payout in detail – gross, taxes and net for the first year (with lump sum), a regular year and the entire payout phase.
Example (default values)
Age 35, €50,000 income today, €20,000 in retirement, €1,800 contribution per year, retirement at 67, payout until 85:
| Altersvorsorgedepot | ETF savings plan | |
|---|---|---|
| Own contributions | €57,600 | €57,600 |
| Total subsidies | €17,280 | – |
| Final capital at 67 | €228,547 | €163,602 |
| Net monthly payout | €989 | €872 |
| Total net payout | €213,564 | €188,456 |
How the calculation works
Savings phase
- Year-by-year simulation: contribution, subsidies and any reinvested tax refund are credited at year end; returns accrue on the capital at the start of the year.
- AVD return = ETF return − AVD costs.
- AVD capital is split into two pots: subsidised (own contributions up to €1,800 + subsidies + Riester transfer) and unsubsidised (overpayment above €1,800).
- Tax saving = tax(income) − tax(income − min(contribution, €1,800) − subsidies) − subsidies, using the 2026 income tax tariff (single) plus solidarity surcharge.
- The ETF savings plan gets the same contribution. With a base rate > 0 the Vorabpauschale is taxed every year (30% partial exemption, saver’s allowance, 26.375% flat-rate tax or the cheaper personal rate).
Payout phase
- After the optional lump sum, the capital is paid out evenly with the annuity formula (payment at the start of each year) until the end of the payout phase.
- AVD, subsidised part: fully taxable at your personal marginal rate (deferred taxation).
- AVD, unsubsidised part: only the gain share is taxable – half of it if the savings phase lasts at least 12 years and payouts start at 62 or later.
- ETF savings plan / separate depot: the average gain share of each withdrawal is taxed after partial exemption and saver’s allowance at the flat rate or the cheaper personal rate.
Who benefits from the Altersvorsorgedepot?
The AVD is especially attractive for small and medium contributions (the basic subsidy is 50% up to €360), for families with children and for career starters. Whether the advantage holds depends heavily on your tax rate in retirement: AVD payouts are taxed in full, whereas an ETF savings plan only taxes gains. Spending the tax refund instead of investing it gives up part of the advantage.
Altersvorsorgedepot vs. Riester pension
Riester focuses on guarantees and conservative investments. The Altersvorsorgedepot drops the contribution guarantee, focuses on return potential (e.g. ETFs) and caps costs of standard depots at 1% a year. Existing Riester capital can be included in the calculator as a transfer.
What costs should you expect?
Fund costs (TER) are already part of the expected return. You additionally enter the Altersvorsorgedepot’s costs; standard depots are capped at 1% effective costs per year. For the ETF savings plan the calculator assumes a free depot without order fees.
FAQ
How much support do I get? Up to €540 basic subsidy per year, up to €300 child subsidy per child, and a one-off €200 career-starter bonus. A tax refund via the special-expense deduction may come on top.
How much can I pay in? Up to €6,840 per year per contract, €13,680 with two contracts. Only own contributions up to €1,800 are subsidised.
When and how is it paid out? From age 65 at the earliest and 70 at the latest – as a payout plan until at least 85 or as a lifelong annuity. Up to 30% can be taken as a lump sum at the start.
What about early withdrawal? Subsidies and tax benefits usually have to be repaid and gains are taxed retroactively. Exception: owner-occupied housing (depending on the provider).
Assumptions & notes
Inflation and social security contributions are ignored; we assume accumulating funds and a child subsidy until the 18th birthday. The results are a model calculation and not individual investment or tax advice. All calculations run locally in your browser; your inputs are never uploaded.