What's in the Altersvorsorgedepot (AVD) really?
Subsidies, tax benefit and final capital – calculated live on the enacted pension reform act (products from 1 January 2027).
Your inputs
Customer viewCapital trajectory
Before-cost and after-cost paths. Build-up to retirement, then controlled drawdown.
How to read this
- Nominal / Real
- Real is adjusted for inflation (~2% p.a.) to today's purchasing power, nominal is not.
- Before / after cost
- Before/after cost: the product-cost drag on the pot.
- Before / after tax
- Before/after tax: the deferred taxation on the pension at payout.
How the final capital breaks down
Subsidy breakdown · year 1
€2,532 totalDe-risking glidepath (LCM)
Xaver's lifecycle management lowers the growth-asset quota continuously and nonlinearly – more growth while retirement is far away, more protection as it comes closer. The quota is re-derived every year from your risk profile and the remaining horizon, and runs into the payout allocation without a step change. Managed risk instead of an expensive contribution guarantee.
- 174% todayAge 30: return-oriented while retirement is far away.
- 2Year after yearThe quota falls continuously and nonlinearly – no cliff at the end.
- 3Final yearsThe step-down is re-derived each year from risk profile and remaining horizon – no cliff, no fixed ceiling.
- 410% at 67Payout begins with risk already wound down.
AVD compared to alternatives
Three routes, same contribution
Same contribution, same gross return path, the capital at 67 per alternative, with your inputs. Expand each comparison for the details.
Model calculation, the comparison covers subsidy frameworks, not specific products; not investment or switching advice. Values can fluctuate – past returns are not a promise.
What you pay, and what remains
What the cost costs you
Customer view: the full all-in cost as return drag – not hidden in a footnote.
Cost breakdown
Customer view: full all-in cost, capped at 100 bps. No front-end loads, no transaction costs.
Model calculation, not binding advice. Investment values can fluctuate – past performance is not a promise of future returns. Net pension, real values and tax effects are simplified estimates (§ 32a EStG, constant inflation assumption); actual taxation may differ. The subsidies require direct eligibility (e.g. employees subject to statutory pension insurance, certain self-employed and members of professional pension schemes) and a minimum own contribution of €120 per year.
- Allowances are credited in May of the following year.
- The tax refund (Günstigerprüfung) is paid in July of the following year.
- Solidarity surcharge and church tax are not modelled.
- Riester legacy contract: costs of 150 bps p.a. assumed.
Three building blocks, one honest total.
Basic subsidy
50% on the first €360, 25% on the next €1,440 – up to €540 per year.
Child allowance
€1 per €1 of own contribution, up to €300 per child per year (full from €25/month) – while the Kindergeld entitlement lasts (to 18, in education to 25).
Career-starter bonus + tax advantage
€200 one-off if the contract starts before age 25; contributions also reduce tax via the Günstigerprüfung.