Dual earners: two Altersvorsorgedepot accounts, worked through

Katrin Straub

Published on 15 July 2026 · Updated on 7 August 2026 · Managing Director, imatch GmbH

Why married couples can't use a joint account for the Altersvorsorgedepot

By law, the new Altersvorsorgedepot must be held by one person and cannot legally be run as a joint account^[1]. So if you and your spouse or registered civil partner want to save for retirement together, you need to open two separate accounts to claim the state subsidy. Each account is permanently tied to the respective partner's tax identification number. This strict separation ensures that the individual subsidy criteria, allowance entitlements and later taxation during the payout phase can be assigned precisely.

The advantages of two separate accounts for dual earners

For childless, high-earning dual earners, this legal requirement turns out to be no disadvantage at all, but a lever for maximum tax savings. Holding two separate accounts doubles the household's potential Sonderausgabenabzug. Each spouse can claim their own contributions of up to 1,800 euros a year fully against tax. Combined, that produces a tax reduction on own contributions of up to 3,600 euros a year. How the new Altersvorsorgedepot is tax-subsidised in your specific situation, and how that compares with unsubsidised options, can be calculated exactly. Our subsidy calculator is available for a precise simulation of your combined savings.

• Own contract management: each spouse signs their own certified account contract and independently decides on the investment strategy, for example by choosing suitable ETFs.
• Double tax deduction: on a joint tax return, both contracts can be declared separately as special expenses, doubling the total deductible amount to 3,600 euros.
• Independent assets: the retirement assets also stay legally separate, which allows for clean attribution without complicated splitting in the event of divorce or inheritance.

At Vorsorgedepot-Lotse, we help you find the path that works best for you. Whether you'd rather set up both accounts yourself with a low-cost neobroker, or prefer qualified, personal advice for your family's financial planning: we give you neutral, transparent access to the right partners for either path.

Not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG. The tax figures and calculations given are for illustrative purposes only.

The tax lever for dual earners: how to double the Sonderausgabenabzug

Because joint accounts aren't allowed for the new Altersvorsorgedepot, dual-earner couples must hold two separate accounts. What looks at first glance like extra administrative effort turns out, in practice, to be a substantial tax advantage. Thanks to this strict separation, both working partners are entitled to the full state subsidy in their own right, effectively doubling the tax benefits at household level.

Concretely, from 2027 the legal framework provides that own contributions of up to 1,800 euros per calendar year can be claimed for tax as special expenses^[2][7]. For childless couples with two incomes, this means that saving into two accounts in parallel lets them deduct up to a combined 3,600 euros a year from taxable income. Exactly how this tax subsidy plays out in an individual case is worked out automatically by the tax office as part of the so-called Günstigerprüfung (favourability check) on the income tax return.

• Joint accounts are legally excluded, so each spouse must set up their own individual account.
• The maximum Sonderausgabenabzug is 1,800 euros per person, per calendar year.
• Under the dual-account model, the maximum deductible amount for the joint household adds up to 3,600 euros.
• The actual tax saving depends on the couple's personal marginal tax rate.

To make the most of this lever and work out the exact benefit for your individual income split, our subsidy calculator is available to you. With this neutral tool, you can run different savings scenarios and see how the doubled subsidy affects your combined final capital over the long term. Our knowledge section also offers in-depth guides to all the tax details. For the practical next step, you can either compare brokers yourself or use our independent advice service to clarify open questions in a personal conversation.

Not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG. All mathematical calculations, tax modelling and projections are purely illustrative and do not constitute legally binding advice.

The worked example: assumptions and parameters for our high-earner couple

For childless dual-earner couples, running two individual accounts in parallel is the only legal route, since a joint account is legally excluded for the Altersvorsorgedepot. This setup lets each partner secure the full Sonderausgabenabzug of up to 1,800 euros a year in their own right, so the couple can invest a combined 3,600 euros with tax effect. With joint assessment and a combined gross income of 160,000 euros, this doubling leads to a substantial reduction in the tax burden.

To show the concrete impact of this dual-account model transparently, our worked example assumes a married, childless couple with taxable income in the top-tax-rate range. In our scenario, both spouses independently invest the maximum eligible annual contribution through their own account. Exactly how the Altersvorsorgedepot ends up tax-subsidised is decided by the tax office's Günstigerprüfung, which compares the tax saving from the Sonderausgabenabzug against the allowances. For high earners, the tax effect typically outweighs the direct allowance by a clear margin.

To calculate the exact tax effects and to set up your Altersvorsorgedepot correctly, you can use our subsidy calculator, which applies these parameters individually to your personal tax situation. A comparison like this helps you decide how to split your savings contributions optimally. Please note that all figures given in this model calculation are purely illustrative and do not constitute investment or tax advice. Not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG.

The concrete tax saving in detail: a precise mathematical model

For a childless, high-earning dual-earner couple, the statutory design of the Altersvorsorgedepot offers an enormous lever. Because a joint account is legally excluded, both partners must open their own individual account. What looks at first glance like extra administrative effort turns out, for tax purposes, to be a double advantage: both partners can each fully use the Sonderausgabenabzug of up to 1,800 € a year^[4]. At household level, this deduction therefore adds up to 3,600 €, maximising the tax subsidy for dual earners.

• Maximum Sonderausgabenabzug: two separate contracts double the total tax-deductible amount to 3,600 € a year (1,800 € per person).
• Individual marginal tax rate: for a childless couple with high income, the top marginal tax rate of 42 percent typically applies.
• Exact annual refund: a deduction of 3,600 € at a tax rate of 42 percent produces a direct tax saving of exactly 1,512 € a year.
• Monthly liquidity effect: converted to a monthly figure, that means an extra 126 € in liquidity that flows straight back into the household budget.

Compared with a conventional, unsubsidised ETF savings plan, this immediate tax refund provides a noticeable boost to the household's running budget. The couple can use the refunded 1,512 € to fund next year's contributions or to build wealth elsewhere. For a precise calculation of your individual saving, you can use our knowledge section or our subsidy calculator. Please always bear in mind: the mathematical models are for illustrative purposes only. Not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG.

The compound-interest turbo: reinvesting the tax refund directly

If, instead of leaving it unused in your current account, you strategically reinvest the tax subsidy from two parallel Altersvorsorgedepot accounts, you activate a powerful compound-interest effect. At a combined top tax rate of 42 percent, the maximum Sonderausgabenabzug of a combined 3,600 euros produces an annual tax refund of exactly 1,512 euros. If you consistently pay this amount, year after year, into a private, unsubsidised ETF savings plan once your tax assessment arrives, you build up a substantial third pot of wealth in the background, without having to spend any extra capital out of your regular net income.

The long-term leverage of this reinvestment is mathematically striking. Over a 30-year horizon, you pay in a total of 45,360 euros in tax refunds. Assuming a broadly diversified world ETF achieves an average annual return of a moderate 6 percent, this portfolio grows to a considerable 119,536 euros by the end of the term. If the market achieves an average net return of 7 percent over this long period, the final capital comes to as much as 142,825 euros^[5]. In this scenario, the interest gains amount to well over double the capital paid in, demonstrating the enormous leverage of disciplined reinvestment.

• After 10 years: a final capital of 19,929 euros, against a total of 15,120 euros in tax refunds paid in
• After 20 years: a final capital of 55,620 euros, against a total of 30,240 euros in tax refunds paid in
• After 30 years: a final capital of 119,536 euros, against a total of 45,360 euros in tax refunds paid in

With our interactive tool, the subsidy calculator, you can easily compare different tax scenarios and your own individual savings path, and calculate the exact subsidy effects for your household. Please always bear in mind: these calculations are illustrative, are based on historical averages, and do not represent a guarantee of future performance. Not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG.

Two accounts, two portfolios: strategic asset allocation for couples

Because joint accounts aren't permitted for the state-subsidised Altersvorsorgedepot, dual-earner couples always have to open two separate, individual accounts. This regulatory requirement, however, brings a considerable strategic advantage for your joint financial planning. Holding separate accounts lets each spouse tailor their investment strategy independently to their own risk profile. It also lets you maximise the tax saving for the whole household, since both partners can each fully use the Sonderausgabenabzug of up to 1,800 euros - a combined total of up to 3,600 euros a year^[6]. We've analysed in detail how the Altersvorsorgedepot compares with unsubsidised options in our ETF savings plan comparison.

• Individual risk profiles: one partner can choose a more aggressive equity strategy, while the other opts for a more defensive portfolio with lower volatility.
• Optimised overall weighting: coordinating both accounts allows precise tax-efficient and functional diversification across the household's entire wealth.
• Full flexibility: both spouses retain legal control over their own account, which secures maximum flexibility even through a career change.

Our knowledge section gives you the guidance you need to make these strategic decisions on a factual basis. If you want to work out a tailored asset allocation for your individual accounts, you can either run the accounts yourself through a neobroker, or turn to a licensed expert via our independent advice service, who will help you find the optimal split.

Not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG. The scenarios and model calculations presented here are for illustration and information only. They do not constitute investment or tax advice.

Flexibility over time: dealing with changes in income or career breaks

A key advantage of holding two separate Altersvorsorgedepot accounts as a dual-earner couple is complete financial independence through life changes. Unlike rigid joint structures, two individual accounts respond entirely flexibly to different career paths. Should one of you take a career break, go on sabbatical, or temporarily earn less, this has no negative effect on your partner's account. The other person's subsidy status and tax benefits remain untouched, while your own account can be flexibly adapted to your new financial reality.

• Sabbatical or study leave: if one partner wants to pause for a few months, the monthly contribution can easily be reduced or suspended entirely for that period. The other partner keeps contributing to their account unchanged and continues to make the most of the maximum subsidy.
• Later parental leave: even with a temporary reduction in working hours, the contribution rate on the affected account can be adjusted individually. There are no rigid links that would burden both contracts.
• Income fluctuations: thanks to the flexible structure of the Altersvorsorgedepot, you can adjust your contributions at any time, to keep the optimal balance between your own contribution and the state benefits.

This separate flexibility ensures that, as a high-earning couple, you never have to put your long-term wealth planning completely on hold just because one partner's circumstances change temporarily. You keep full control over your individual contribution rates at every point. When you set up a new Altersvorsorgedepot, you lay the foundation for a highly adaptable retirement system. That way, your joint retirement provision stays exactly as dynamic as your careers, while you benefit from the maximum tax subsidy at the same time.

Not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG.

The path to implementation: self-directed vs independent advice

Because joint accounts aren't legally permitted for the Altersvorsorgedepot, dual earners must open two individual accounts. In practice, this leaves you with a basic decision, which you can also make individually and independently of each other: do you prefer managing it yourself through an app, or would you rather have personal guidance? The choice between app or advice depends entirely on your existing knowledge, the time you have available, and how much reassurance you need. Both paths are equally valid and, from launch in 2027, both lead to the goal of activating the state subsidy optimally^[6].

Two equally valid paths to the optimal dual-account setup

• The digital self-directed path: if you already have experience with ETFs and want to manage your retirement provision yourself, opening an account through a neobroker or direct bank is ideal. This path offers maximum flexibility at minimal cost. To transparently evaluate the various account fees and investment options, our provider comparison can help. That way, you secure the full state subsidy in just a few clicks.
• The guided advice path: if you want to work through complex tax questions on how to split the 3,600-euro Sonderausgabenabzug optimally as dual earners, or you'd like structured financial planning, professional guidance is advisable. Through our independent advice service, you get access to licensed experts. They analyse your joint financial situation and make sure both accounts are perfectly coordinated with each other.

In our knowledge section, you'll also find detailed analyses of the legal framework. Use our subsidy calculator, too, to calculate your expected tax relief exactly. Our guide also shows you how to set up an Altersvorsorgedepot and formally apply for the state subsidy correctly.