Take control of your future
Complement your pension with ETFs that target higher growth.
Get state support along the way
Receive up to €540 per year, plus extra bonuses for young starters and parents.
Save on capital gains tax
Grow your investments tax-free until retirement, when you will likely pay a lower tax rate.Plan your pension
€242,727
Total projected pension at age 67Your wealth over time
Compare every detail
*ETFs and funds can be subject to high fluctuations in value. The invested amounts are not guaranteed, and a total loss of your investment is possible at any time. Past performance is not a reliable indicator of future performance. Ensure you have sufficient knowledge before making any transactions.
Learn more about our key assumptions for this calculation:
1. The Altersvorsorgedepot launches on 1 January 2027. We assume you contribute every month until the year before your 67th birthday, then draw the pot down as a level monthly pension until age 85 — a 19-year payout. Amounts are shown in today's euros, before inflation.
2. On top of what you pay in, the state adds a Grundzulage: 50% of your first 360 € saved each year, plus 25% of the next amount up to 1.800 € — a maximum of 540 € per year. Each child adds a Kinderzulage that matches your own contribution, up to 300 € per year, for the years they qualify for Kindergeld, assumed to age 18 and assumed born this year. Start before 25 and you also get a one-time 200 € career-starter bonus. Subsidies are paid into your depot once a year.
3 Your monthly contributions are compounded at your chosen annual return (converted to a monthly rate), and each year's subsidies are added on top. Unlike a normal broker account, the Altersvorsorgedepot pays no tax during the savings phase — no Abgeltungsteuer and no Vorabpauschale — so everything compounds untouched. The default return shown is 7% per year, before tax.
4 Contributions are also tax-deductible. Through the tax office's Günstigerprüfung, if the tax you save by deducting them is worth more than the Zulage you already received, you get the difference back as a refund to your bank account. This mostly benefits higher earners and appears in your result as extra tax refunds.
5 At 67 the pot becomes a level monthly pension paid to 85. Tax follows where the money came from: the subsidised share — contributions that received Zulage — is taxed at your personal rate in retirement, assumed 10 percentage points below your working rate and at least 10%. The unsubsidised share is taxed much more lightly: a portion of each monthly payment counts as a tax-free return of money you already paid in, and only the remaining growth is taxed — at half your retirement tax rate based on the assumption of application of the half-income principle under the 12/60 rule.
6 To keep the comparison fair, the ETF savings plan uses the same contributions and return but with no state subsidy and realistic broker tax — an annual Vorabpauschale (3.2% base rate, 30% equity Teilfreistellung, 26.375% Abgeltungsteuer). The savings account earns a flat 2% with no subsidy.
7 This is an illustration, not tax or investment advice. Returns are assumed constant and are not guaranteed — markets fluctuate. Figures ignore inflation and product fees, and use standard annuity maths for the payout. Your real result depends on the funds you choose, future legislation, and your personal tax situation.
All investments carry a risk of capital loss. ETFs can be subject to high fluctuations in value. The invested amounts are not guaranteed, and a total loss of your investment is possible at any time. Past performance is not a reliable indicator of future performance. Ensure you have sufficient knowledge before making any transactions.
Pre-register for a private retirement account
Be notified when it’s time to open yours.Shape your own pension
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Strengthen your retirement with state support
Invest at least €120 per year to unlock these grants.
The state will match 50% of your first €360, after that they’ll match 25% until €1,800 — giving you a basic grant of up to €540 per year.
The state matches up to €300 per year for each child eligible for child benefit (Kindergeld).
Open one of the private pension plan options before your 25th birthday and the state will give you a €200 welcome bonus.
The state will match 50% of your first €360, after that they’ll match 25% until €1,800 — giving you a basic grant of up to €540 per year.
The state matches up to €300 per year for each child eligible for child benefit (Kindergeld).
Open one of the private pension plan options before your 25th birthday and the state will give you a €200 welcome bonus.
Tax advantages
Your pension, coming to the N26 app
Coming to N26 in January 2027, subject to regulatory certification.
Compare retirement plans
This chart is a high-level comparison only, and does not claim to be complete or exhaustive.
Pre-register for a private retirement account
Be notified when it’s time to open yours.FAQ
- Unlike the old Riester system, eligibility isn't limited to traditional employees and civil servants. Self-employed workers, freelancers, and members of professional pension schemes now qualify, even if they don't pay into the public pension system.
- From January 2027, you can open a retirement portfolio directly in the N26 app or on our website. You'll need to submit a one-time subsidy application — N26 handles the paperwork and sends it to the government on your behalf.
- The new pension plan is broader and simpler. Unlike the old Riester plan, it's open to almost everyone with a German tax liability — not just those paying into the statutory pension. The new private pension plans (Altersvorsorgedepots) are investment-based, meaning your money has the potential to grow more over time rather than sitting in a low-yield contract.
- Up to €540 per year. You receive 50% on your first €360 of contributions (= €180 €) and 25% on the next €1,440 (= €360). Contribute at least €1,800 per year to claim the full amount.
- Yes — you can transfer an existing Altersvorsorgedepot to another provider, as long as the transfer happens directly between the two certified contracts. The state benefits stay intact.
- Contributions up to €1,800 per year are tax-deductible. In retirement, only a portion of your withdrawals are taxed — significantly less than your working-life income tax rate for most people.
- Yes. You can contribute up to €6,840 per year, however, both the government bonus and the tax deduction cap out at €1,800 per year.
- You can start taking monthly payouts as early as the year you turn 65, with the option to withdraw up to 30% of your total balance as a lump sum. Taking money out outside these standard retirement rules is considered early cashing out (förderschädliche Verwendung), meaning you’ll have to pay capital gains tax and repay any state bonuses and tax savings you received.
- Your portfolio remains open and your investments always have potential for growth. You won't lose bonuses you've already received. You can resume contributions at any point. If you stop permanently, you can still leave the funds invested until retirement.
- This is an evolving topic and will become clearer in 2028. For the latest policy updates and tax administration guidance, you can refer to the Bundesfinanzministerium website: https://www.bundesfinanzministerium.de/Web/DE/Home/home.html
- In principle, all your contributions remain and become part of your estate, and that money is passed on to your beneficiaries. The state bonuses and tax savings are government funds given specifically toward your retirement. If you pass away before retirement, the government reclaims them. However, state bonuses and tax savings do not have to be repaid if your surviving spouse transfers your pension assets to their own pension contract.