The Altersvorsorgedepot (a state-supported private pension depot, in German) can be calculated with a simple model: your own contribution, the state allowance and the return on the investment. The question “what is left at the end?” depends mostly on the return you assume and on the number of years. This guide shows how to set up that calculation yourself.
Short answer: As an example, a yearly payment of 1,800 euros plus a 540 euro allowance over 25 years gives 58,500 euros without any return. At an assumed return of 3 percent a year, the result is roughly 85.315 euros, and at 5 percent roughly 111.681 euros. These are worked examples, not forecasts. Status: November 2026.
The most important points at a glance
- The final balance consists of your own contributions, the allowance and the returns.
- The allowance works like an extra payment each year, provided it flows into the depot.
- A return of 0 percent shows how much arises purely from contributions and allowances.
- Small differences in return add up strongly over 25 years.
- Costs reduce the return, and the provider has to state their level.
How the calculation is built
The model assumes that you pay a fixed amount each year and that the allowance flows into the same depot. The yearly payments are invested at the end of each year and earn the return from then on. The formula is: final value equals yearly amount multiplied by (one plus return to the power of years, minus one), divided by the return. At a 0 percent return the compounding falls away, and only the sum of payments remains.
Assumption for all examples: 1,800 euros of own contribution and 540 euros of basic allowance every year, which is 2,340 euros a year, over 25 years, with no payouts before the end.
Table: final balance at different returns
| Assumed return per year | Final balance after 25 years | Note |
|---|---|---|
| 0 percent | 58.500 euros | Only contributions and allowances |
| 3 percent | 85.315 euros | Worked example, not a promise |
| 5 percent | 111.681 euros | Worked example, not a promise |
The table shows that the return makes up a large part of the result. At 5 percent the final balance is almost twice the amount without any return. The result is only as good as the assumption, and returns fluctuate.
How strongly does the term change the result?
The term changes the result considerably. If the payments stay the same but the term is 35 years instead of 25, the balance at 3 percent return rises well beyond the 25 year value. Assumption: at the same yearly amount of 2,340 euros and a 3 percent return, 35 years give roughly 141.481 euros. Starting earlier therefore allows more with the same monthly amount.
Which figures can you change yourself?
You can change three figures: the amount of your own contribution, the term and the assumed return. The allowance depends on the contribution, as described in Altersvorsorgedepot Zulage berechnen (in German). At 150 euros a month you pay 1,800 euros a year and receive 540 euros. At 75 euros a month you pay 900 euros a year and receive 270 euros. The allowance falls with the contribution, but the share stays at 50 percent up to 360 euros a year.
Before you change several figures at once, keep one of them fixed. Only then can you see which change has which effect on the result.
Why costs change the return
Costs reduce the return every year. The difference between two products with the same gross return can therefore add up over many years. Assumption: 5 percent gross return, in one case 4.5 percent after costs and in the other 5 percent after costs. Over 25 years, the first case gives roughly 104.283 euros and the second roughly 111.681 euros. The difference of 0.5 percentage points is therefore about 7.399 euros. The exact costs are stated by the provider in its documents. The article Altersvorsorgedepot vergleichen: Worauf es bei Kosten ankommt (in German) explains the cost comparison.
The result also depends on whether the allowance is actually invested in the depot. The calculation assumes that it is, because it is paid into the same account each year. If you keep the allowance in another account, the final balance is lower than shown here. The same logic applies to any payment that is not invested.
Frequently asked questions
Is the result guaranteed?
No. The calculation shows assumptions, not promises. Returns depend on the investments and can fluctuate. Whether a guarantee exists depends on the product you choose.
Does the calculation consider inflation?
The example works with nominal values, so without deducting inflation. The real purchasing power is lower. For a closer look you can apply your own inflation assumption.
When can I receive payouts?
Payouts follow the rules of the statute and of the contract. The article Altersvorsorgedepot: Was bedeutet ein Auszahlplan über 20 Jahre? (in German) describes one possible form.
What about taxes on the return?
Whether and how returns are taxed depends on the statute and your contract. The calculation here shows gross values without taxes. The tax link to the allowance is covered in Altersvorsorgedepot steuerlich absetzen: Zulage oder Sonderausgaben? (in German).
Which result is realistic?
There is no fixed realistic number. It is sensible to calculate several scenarios with low, medium and high returns, and not to base the decision on a single result. Whether starting makes sense is examined in Altersvorsorgedepot: Ab welchem Einkommen lohnt es sich? (in German).
A practical way to use the calculator is to write down the assumptions before you look at the result. Note the yearly contribution, the number of years, the return and the costs. Then change only one figure at a time. This shows which assumption drives the outcome most, and it prevents an optimistic scenario from deciding the question on its own.
How to proceed now
- Set your yearly own contribution and calculate the allowance with the two stages.
- Calculate three scenarios with 0, 3 and 5 percent return.
- Ask the provider for the costs in percent per year and deduct them in the calculation.
- Repeat the calculation before you sign a contract.
Related articles
- Altersvorsorge 2027: Der Überblick zu Depot, Frühstart-Rente und Riester (in German)
- Altersvorsorgedepot Zulage berechnen: 50 Cent je Euro bis 360 Euro (in German)
- Altersvorsorgedepot vergleichen: Worauf es bei Kosten ankommt (in German)
- Altersvorsorgedepot steuerlich absetzen: Zulage oder Sonderausgaben? (in German)
- Altersvorsorgedepot Rechner: Was am Ende auf dem Konto steht (in German)
Sources: Bundesrat, Drucksache 206/26 on the Altersvorsorgereformgesetz (status 2026) and Deutsche Rentenversicherung, Altersvorsorgereformgesetz (status October 2026)
Last updated: November 2026. This guide is general information, not individual advice.
