Retirement Account Calculator Disclaimer

Risk notice: All projections are model calculations based on historical return assumptions. Past returns are no guarantee of future results. Investing in securities carries the risk of loss, up to total loss.

No tax advice: The information and calculations contained in the model calculator do not constitute tax advice or any assurances under tax law. They are exclusively general, illustrative representations without any individualised tax character. The tax treatment depends on the customer's personal circumstances. For an individual assessment, please consult your tax advisor. No liability is accepted for tax consequences arising from the use of this information.

The model is based on the adopted German pension reform act (Bundesrat approval on 8 May 2026, products from 1 January 2027). Future legislative changes may cause the actual subsidy conditions to differ. All amounts in euros, rounded to whole euros.

State subsidy (allowances)

The Altersvorsorgedepot combines two tiers of direct base allowances with a tax deduction (special-expenses deduction under § 10a EStG). This calculator reflects the direct allowances. The income-dependent special-expenses deduction (with a favourability check) is not included here.

Tier 1 (50%): On the first €360 of annual contribution the state pays 50%, i.e. up to €180 per year.
Tier 2 (25%): On the next €1,440 (contribution €361–1,800) the state pays 25%, i.e. up to €360.
Child allowance: For each child for whom you receive child benefit (Kindergeld), you receive up to an additional €300 per year — capped at your own contributions. Child benefit runs until age 18, or until 25 if the child is in education or training. The allowance ends with the child benefit entitlement. In the calculator you choose the end (18 or 25) per child.
Career-starter bonus: Anyone under 25 in the 2027 start year receives a one-time €200 extra.

Long-term projection

The projection extrapolates the savings phase from the 2027 start year to the chosen retirement age (between 65 and 70, default 67). It shows the state allowances received over the accumulation phase and the expected investment assets at retirement.

Contributions up to €1,800 p.a. are eligible for subsidies and are saved on a tax-advantaged basis. Higher contributions continue to be saved without any additional allowance.
Contributions and state allowances grow tax-free during the savings phase. No advance lump-sum tax (Vorabpauschale) applies.
The investment assets shown are a pre-tax figure. The payout is taxed on a deferred basis. The calculator does not model this payout phase.

Model limitations

For the sake of transparency and traceability, this model simplifies in a few places:

Return and contributions are assumed constant over the entire term, with no contribution inflation and no rebalancing.
Historical equity-market returns have long averaged 7–9% p.a. before inflation. The default assumption is 7.5%.
The exact product and fund costs (acquisition, administration, fund fees) of the Altersvorsorgedepot are not yet fixed. For illustration the model assumes 1% effective costs per year, the legally defined cap for the publicly organised standard depot. These reduce the assumed return accordingly. The actual costs of the eventual product may differ.
Personal life circumstances such as parental leave or self-employment are not taken into account.