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Altersvorsorgedepot: what 0.5 percent more in fees costs over 40 years

September 30, 2026 Comments Off on Altersvorsorgedepot: what 0.5 percent more in fees costs over 40 years

Around €35,000. That is how much half a percentage point more in fees can cost over a long saving life. Sounds unbelievable, but it is simple maths. Costs are subject to the same compound interest as returns, only working against you. And the small percentage hardly stands out in everyday life, because the fee is deducted silently inside the securities account. An example shows how big the difference becomes.

Key points at a glance

  • Just half a percentage point more in fees costs around €35,000 over 40 years (at €150 a month and a 6% return).
  • At 2 percent costs, the final capital shrinks by more than €100,000 compared with the cheapest case.
  • The reason is compound interest: every euro of fees is missing twice later on, because its returns are lost too.
  • Costs are the one factor you can control yourself; returns are not.

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The example

Take €150 a month over 40 years at an assumed 6 percent return. With costs of 0.2 percent you end up with around €283,000; with 1.0 percent only about €229,000. The difference is pure fees. Same contributions, same return, only the costs differ.

Expensive is not the same as bad

A higher price is no reason to get upset. It can stand for real service, such as personal advice, a contribution guarantee or a wider choice of funds, and if you value that, a more expensive product can be worth it. So the fee is not the enemy. It is a number you should know, so that you decide consciously what you pay for. Our aim is not to crown the cheapest provider but to show you the order of magnitude.

And it gets more drastic. If you choose a more expensive individual product at 2.0 percent instead of 1.0 percent, the final capital shrinks to around €177,000. Between the cheapest and the most expensive case lie more than €100,000, with identical contributions. Pure maths. You paid in the same amount, earned the same return, and still end up with a fortune less. The only difference is the annual fee.

Why it makes such a difference

The reason is compound interest. Every euro that flows out as a fee is missing twice later, because all the returns on that euro are lost as well. Over a few years this hardly shows. Over decades it piles up into a five-figure sum. That is why the fee is the lever that matters most over the long run. Think of it as a small leak. One drop a minute goes unnoticed; over forty years it fills a bucket. The cost ratio works the same way, only invisibly, because it is deducted inside the ETF or fund and never arrives as an invoice. Those who start early have the longest lever, which is why fees hit young savers particularly hard.  
Try it out

What account fees really cost you

Numbers feel abstract until you see them yourself. Set your savings rate, the term and the account fee, and the account cost calculator shows how much different fees add up to over the years. Seemingly small percentage points quickly turn into large sums. Try it out.

What comes out in euros at the end is what decides the choice of provider in real life. Small cost differences, big impact. That is exactly what we look at in the provider monitor, which compares the accounts by their total costs.  
Monatliche Sparrate iIhr eigener Beitrag pro Monat. 200 €
25 €1.000 €
Laufzeit iÜber wie viele Jahre Sie sparen. Üblich: Zeit bis Renteneintritt. 30 Jahre
10 Jahre40 Jahre
Depotgebühr p. a. iJährliche Kosten Ihres Depots. Sehr niedrige Kosten: ~0,2–0,5 %. Bank: ~1 %. Aktiver Fonds: ~1,5 % und mehr. 1,0 %
0 %2 %
Depot-Wert nach 30 Jahren
–
bei 1,0 % Kosten p. a.
Nur an Kosten verloren
–
Über die gesamte Laufzeit

Annahme: 6,0 % Bruttorendite p. a.

Erweiterte Berechnung Mit Einkommen, Rendite, Kosten, Inflation, Riester-Übertrag, ETF-Vergleich

Unverbindliche Modellrechnung, keine Anlageberatung, keine Garantie künftiger Wertentwicklung. Vergangene Wertentwicklungen sind kein verlässlicher Indikator für künftige Wertentwicklungen.

When the difference shows

In the first years you notice almost nothing. After five years the two accounts may be a few hundred euros apart, and many shrug it off. The gap does not grow evenly, though; it accelerates, because it acts on an ever larger balance. The second half of the term opens most of the gap. Time magnifies everything. That is why the decision at the start is so valuable, even though it only pays off late.

The factor you can control

The good news is that costs are the one factor you have in your own hands. You cannot control the return, but you can control the fee. A low percentage works anew every year and is the only thing about a securities account that is certain to benefit you. Work out your own difference with the account cost calculator and compare providers in our cost overview for the Altersvorsorgedepot. A tenth of a percent sounds like nothing. Over the years it has a surprisingly strong effect.

Note: model calculation, 6% p.a. assumed, no guarantee. The 2 percent case represents a more expensive individual product (consumer advice centre: 1.5–2.5%), not a specific provider.

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Frequently asked questions

FAQ on costs of the Altersvorsorgedepot

Why do such small percentages have such a strong effect over time?

Because the fee applies every year to the entire balance, not just to the contributions. As your wealth grows, so does the amount deducted as a fee. Over a few years this stays tiny. Over decades, compound interest multiplies the effect until half a percentage point turns into a five-figure difference.

Does compound interest also work against me on costs?

Yes, and many people overlook this. Compound interest works for you as long as your money is in the account, but every euro deducted takes its future returns with it. So the fee does not slow you down once, but permanently. That is why a small cost difference has a much bigger impact over the term than the bare percentage suggests.

When does the cost difference become noticeable?

Late, but then sharply. In the first years two accounts are only a few hundred euros apart, which is why the difference is easy to underestimate. The gap grows disproportionately because it acts on an ever larger balance. Most of it arises in the second half of the term. Choosing a low-cost option early pays off the most.

Is switching worthwhile if I am already saving?

Often yes, because what counts are the years still ahead of you. The longer your remaining term, the greater the effect of a lower percentage. Before switching, check possible transfer costs and whether an existing contract has advantages. Calculate both routes once before you decide. The pure cost saving is usually significant.

About the author

Rolf Henning Hackel

Lawyer & financial market expert · AVD Anbieter Vergleich

Rolf Henning Hackel is a qualified lawyer who has spent more than 22 years as a board member and managing director at various software providers to the financial industry, and as a founder himself. As a thorough market expert he knows not only the different providers but also the financial industry’s products, their strengths and weaknesses, and the regulatory framework around them. At AVD Anbieter Vergleich he writes about the new Altersvorsorgedepot and explains subsidies, providers and return potential in plain language — independently and free of advertising.

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