How much can I pay into the Altersvorsorgedepot at most?

Tilman Freyenhagen

Published on 24 July 2026 · Managing Director & Partner, Alsterspree Verlag GmbH

Maximum contribution at a glance: 6,840 euro annual limit vs. 1,800 euro subsidy limit

From 2027, you'll be able to pay a total of up to 6,840 euros a year into the new Altersvorsorgedepot. However, of this total sum, only your own contributions up to a maximum of exactly 1,800 euros a year receive statutory support. If, as a high earner, you want to invest money beyond this subsidised range, contributions above 1,800 euros and up to 6,840 euros remain free of state allowances, but still flow directly into the pension-oriented account assets.

Comparing subsidised and unsubsidised own capital

Tax impact of unsubsidised additional payments

The statutory mechanism provides for a precise separation between subsidised retirement capital and unsubsidised additional payments. The subsidised range up to 1,800 euros draws fully on the state Grundzulage and Kinderzulage as well as the Sonderausgabenabzug tax deduction. Payments above this threshold up to the limit of 6,840 euros are kept separately on the books by the provider. This ensures that no unreasonable double taxation occurs in the later payout phase. While benefits from subsidised capital are subject to deferred taxation under § 10a EStG, the unsubsidised portion of the capital receives favourable tax treatment on payout. We recommend that investors structure their annual savings rate precisely, to align maximum support highly efficiently with their personal liquidity planning. Not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG.

The 1,800 euro subsidy limit: how allowances and the Sonderausgabenabzug apply

For the Altersvorsorgedepot, the maximum annual subsidised own contribution is 1,800 euros. Up to this maximum, the state rewards your private savings with a two-tier Grundzulage as well as any Kinderzulage payments. Anyone who uses up the full 1,800 euros in the calendar year receives the full state Grundzulage of up to 540 euros. In addition, the Sonderausgabenabzug under § 10a EStG applies to your tax return, allowing employees with higher incomes in particular to noticeably reduce their tax burden.

Grundzulage tiers and the tax lever for high earners

Through the Sonderausgabenabzug, you can claim your own contributions together with your allowance entitlement. Without Kinderzulage, this results in a deductible amount of up to 2,340 euros (1,800 euros own contribution plus 540 euros Grundzulage). The tax office automatically checks, as part of the Günstigerprüfung (favourability check), whether your personal tax saving is higher than the allowance already granted. This creates an attractive tax lever, especially for high earners, since the difference is credited as an income tax refund. To achieve maximum support, it's advisable to fine-tune your annual contribution precisely (Not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG.).

Contributions between 1,800 euros and 6,840 euros: what happens to unsubsidised contributions?

Anyone who pays more than the subsidised maximum contribution of 1,800 euros a year into their Altersvorsorgedepot has fully used up the scope for direct state allowances and the Sonderausgabenabzug. Every euro you save above 1,800 euros, up to the absolute ceiling of 6,840 euros, counts as an unsubsidised own contribution. For high earners, direct tax deductibility during the accumulation phase no longer applies above the 1,800 euro threshold, but the contribution comes with specific mechanical advantages of its own.

• Loss of support: for amounts above 1,800 euros, you receive neither the proportional Grundzulage nor an extended Sonderausgabenabzug.
• Tax-free compound interest: all returns, dividends and price gains within the account remain free of annual Abgeltungsteuer (final withholding tax) during the accumulation phase.
• Separate recording: the provider keeps subsidised and unsubsidised contribution portions separate, which is decisive for taxation later in the payout phase.

The central advantage of unsubsidised contributions lies in the tax deferral effect. Because returns are reinvested throughout the whole term without an annual tax deduction, the invested capital works with the full compound interest effect. Over long investment horizons, this can positively affect returns compared with an ordinary account taxed annually. In the payout phase, unsubsidised contributions are subject to different tax treatment under § 10a EStG, since no state support was granted for this portion during the accumulation phase.

Whether making use of the unsubsidised contribution range of up to 6,840 euros is worthwhile in an individual case depends heavily on your personal tax rate and investment strategy. We recommend a careful comparison with a free ETF savings plan. Please note: all calculations and illustrations are for guidance only and do not constitute investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG.

Tax treatment in the payout phase: subsidised vs. unsubsidised capital

The tax classification of payouts from the Altersvorsorgedepot follows a strict separation between subsidised and unsubsidised capital portions. Subsidised own contributions up to the maximum of 1,800 euros a year, together with the state allowances credited, are subject to deferred taxation in the retirement phase. All payouts from this subsidised capital stock, including all returns generated, are taxed in retirement at your personal income tax rate. This creates a shift in the tax burden, particularly for high earners, since the levies in retirement are offset by clear tax advantages during their working life.

Tax relief on unsubsidised contribution portions

If savers pay in contributions that exceed the subsidised maximum of 1,800 euros, these are recorded as unsubsidised own contributions up to the absolute ceiling of 6,840 euros a year. For this unsubsidised portion, tax law consistently protects against double taxation, since the payments were made from income that has already been taxed. In the event of payout, it is therefore not the own contributions paid in that are subject to income tax again, but only the capital returns attributable to them.

This statutory demarcation ensures that unsubsidised additional payments carry no tax disadvantages when withdrawn later. The Altersvorsorgedepot therefore allows a transparent combination of subsidised wealth building and flexible own investment, even at higher savings rates. All tax calculations are for guidance only (Not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG.).

Monthly instalments and special payments: flexibility in reaching the maximum amount

With the new Altersvorsorgedepot, investors are not tied to rigid monthly contributions or inflexible contract structures, as was common with older-style contracts. The legislator provides for an absolute annual contribution ceiling of 6,840 euros^[2]. This amount corresponds to a purely arithmetic savings rate of a maximum of 570 euros a month. However, savers are never obliged to pay in this full maximum amount. Rather, the system is designed so that the contribution level can be flexibly adjusted to the relevant life stage and financial liquidity.

Comparing contribution models: monthly savings rate versus lump-sum payment

This flexibility offers considerable advantages, particularly for employees with variable salary components, executives with annual bonuses, and the self-employed. You can freely choose whether to fund the Altersvorsorgedepot through regular monthly debits, ad hoc special payments, or a combination of both. While a monthly savings plan encourages a continuous investment practice and cushions price fluctuations, special payments allow lump-sum payments or distributions to be channelled specifically into subsidised retirement provision.

Should your personal income situation change, you can adjust your contribution at any time without red tape. In doing so, note the difference between the maximum amount and the maximum support: to receive the full state allowance support, an annual own contribution of 1,800 euros is sufficient. Payments that exceed this 1,800 euros and reach up to the ceiling of 6,840 euros remain free of allowances, but benefit from the tax-free reinvestment of all capital returns throughout the entire accumulation phase.

Altersvorsorgedepot vs. a free brokerage account: when is it worth exceeding the 1,800 euro threshold?

From 2027, high earners face the strategic question of whether own contributions above the maximum subsidised limit of 1,800 euros a year should be invested in the Altersvorsorgedepot or in a free brokerage account. While own contributions up to 1,800 euros draw on the full state Grundzulage and the maximum Sonderausgabenabzug, additional payments up to the absolute contribution ceiling of 6,840 euros remain free of allowances and tax. Even so, these unsubsidised contributions in the Altersvorsorgedepot still benefit from a tax deferral during the accumulation phase, since dividends, interest and rebalancing gains are reinvested for the time being without any Abgeltungsteuer deduction. Whether this advantage pays off compared with a flexible neobroker account depends on the interplay of term, provider costs and your personal tax situation.

Comparing investment paths above the subsidised maximum

For high-income savers, two factors are central to weighing this up: capital lock-in and cost structure. Amounts in the Altersvorsorgedepot are generally tied up until the start of the payout phase. If you want to build up your wealth undisturbed until retirement, the tax deferral noticeably strengthens the compound interest effect. However, if early flexibility matters to you, or if your chosen Altersvorsorgedepot provider charges higher account management fees, a split strategy is usually advisable: you pay in exactly 1,800 euros to make full use of state support, and invest any surplus savings in a low-cost neobroker account. Our high-earner guide offers more in-depth detail. The subsidy calculator also helps you work out your optimal own contribution. (Note: not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG.)

Married couples and families: doubling the maximum amounts through two separate accounts

As a personal retirement account, the Altersvorsorgedepot is always held in the name of a single individual. There is no statutory joint account for married couples or registered civil partners. However, if both partners meet the personal eligibility requirements, each spouse can take out their own contract. With two independently managed accounts, all the ceilings and subsidy scope for private retirement provision systematically double.

Doubling the subsidy scope and contribution limits

While the maximum annual subsidised own contribution for an individual is 1,800 euros^[3], married couples can save a total of up to 3,600 euros a year with state support through two contracts. The absolute contribution ceiling also multiplies: instead of a maximum of 6,840 euros for a single contract, the maximum annual contribution volume for a married couple is 13,680 euros^[3]. For high earners and employees with higher incomes, this doubled scope allows targeted management of tax deductibility under the Sonderausgabenabzug.

In addition, keeping the contracts separate offers valuable strategic room for manoeuvre in specifically allocating the Kinderzulage. Since a Kinderzulage of up to 300 euros is granted for each child on an own contribution of 300 euros, parents can freely decide, as part of the annual application, which contract the support money should be credited to. If, for example, one partner's taxable income is already enough to fully use up the maximum tax support via the Sonderausgabenabzug, the Kinderzulage can be assigned to the other partner's account. This way, the household's total support can be maximised in a structured manner, with no state allowance entitlements left unused.

Step-by-step strategy: how to work out your optimal contribution level

Determining the optimal annual savings rate in the new Altersvorsorgedepot requires a structured trade-off between direct state allowance support, tax relief via the Sonderausgabenabzug, and personal liquidity planning. Since the legislator strictly distinguishes between the subsidised own contribution of up to 1,800 euros per calendar year and an absolute contribution ceiling of 6,840 euros, investors are advised to take a step-by-step approach when setting their personal savings rate^[4].

Three steps to setting your personal savings rate

1. 1. Use up the state subsidy optimum at 1,800 euros: as a first step, set your base savings rate to up to 1,800 euros own contribution a year (equivalent to 150 euros a month). Within this limit, you receive the full Grundzulage of up to 540 euros a year, plus any Kinderzulage payments you're entitled to, to capture the maximum support for your retirement capital.
2. 2. Consider an unsubsidised top-up up to 6,840 euros: if you have a higher monthly savings capacity, you can make contributions above 1,800 euros up to the maximum amount of 6,840 euros. These unsubsidised additional payments receive no state allowances, but do benefit from the tax-free reinvestment of all interest, dividends and price gains within the protected account structure.
3. 3. Simulate the Günstigerprüfung and tax effects: high earners often also benefit from the Sonderausgabenabzug. As part of the tax return, the tax office automatically works out whether the tax saving from your tax rate is higher than the allowance received, and pays out the difference as a tax refund.

Using our subsidy calculator tool, you can simulate various contribution scenarios, work out your personal allowance rate, and calculate the effect of the Sonderausgabenabzug precisely. This allows you to make an informed decision on which part of your savings should go into the subsidised Altersvorsorgedepot and which part, if any, should be invested in a free, unsubsidised ETF savings plan.

Note: all examples and calculation models shown are for illustrative purposes only. Not investment advice within the meaning of § 1 Abs. 1a Nr. 1a KWG.