{"id":1779292295,"date":"2026-07-20T14:21:05","date_gmt":"2026-07-20T14:21:05","guid":{"rendered":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/uncategorized-en-us\/most-mistakes-do-not-happen-when-saving-but-when-it-comes-to-tax\/"},"modified":"2026-09-24T10:54:39","modified_gmt":"2026-09-24T10:54:39","slug":"most-mistakes-do-not-happen-when-saving-but-when-it-comes-to-tax","status":"publish","type":"post","link":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/expert-interviews\/most-mistakes-do-not-happen-when-saving-but-when-it-comes-to-tax\/","title":{"rendered":"“Most mistakes do not happen when saving, but when it comes to tax”"},"content":{"rendered":"\t\t
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20 tax questions on the Altersvorsorgedepot – an expert interview<\/h2>\n

For this interview, the editorial team at altersvorsorgedepot-anbieter-vergleich compiled the 20 questions that users ask us most often about the tax side of the new Altersvorsorgedepot (Germany’s state-subsidized retirement investment account). They are answered by tax advisor Stephan Riek, a recognized expert on retirement provision.<\/p>\n

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1. What changes for tax purposes if I switch from my Riester contract to the Altersvorsorgedepot?<\/h3>\n

In essence the principle stays the same: contributions receive tax support during the accumulation phase, and the payout in retirement is then taxed. That is called deferred taxation, and the reform does not change it. What does change is how the allowance is calculated – it is now simpler and is calculated in direct proportion to your own contribution, instead of via a complicated, income-dependent minimum own contribution as before.<\/p>\n

2. Could you explain deferred taxation again in simple terms?<\/h3>\n

Gladly. Imagine you pay in \u20ac100. Put simply, this amount first reduces your taxable income, so you save tax today. In retirement, when you receive the money as a pension or a drawdown plan, that payout is then taxed at the personal tax rate that applies to you at that time. The advantage: most taxpayers have a lower income in retirement and therefore a lower tax rate than during their working life. That makes the model attractive for tax purposes.<\/p>\n

3. Do I have to declare the state allowance myself in my tax return?<\/h3>\n

No, that is a widespread misconception. Your provider applies for the allowance automatically at the Zentrale Zulagenstelle f\u00fcr Altersvorsorgeverm\u00f6gen (ZfA) as soon as you have issued what is known as a permanent allowance application. So you do not have to take action every year. In your tax return you simply enter the contributions you have made, so that the tax office can check whether an additional tax advantage arises for you.<\/p>\n

4. What exactly is this more-favourable-treatment check that you often read about?<\/h3>\n

The tax office automatically compares two routes for you: option one is the allowance, which flows directly into your securities account. Option two is an additional special expenses deduction in your tax return. If the tax advantage from the special expenses deduction is higher than the allowance you have already received, you get the difference refunded on top through your tax return. You do not have to apply for anything extra; the tax office checks this automatically when it assesses your return.<\/p>\n

5. Up to what amount can I deduct my contributions for tax purposes?<\/h3>\n

The maximum special expenses amount is \u20ac1,800 of own contributions per year, plus your respective allowance entitlement. In concrete terms: with a maximum basic allowance of \u20ac540, you can claim up to \u20ac2,340 in total as special expenses, even though you yourself only paid in \u20ac1,800.<\/p>\n

6. Is any tax due at all during the accumulation phase if my securities account gains in value?<\/h3>\n

No, and that is one of the biggest tax advantages over a normal, non-subsidized securities account. Price gains and distributions remain tax-free in the Altersvorsorgedepot throughout the entire accumulation phase. There is also no Vorabpauschale (advance lump-sum taxation), which would otherwise be taxable every year on accumulating ETFs in a normal securities account. So the money can keep growing unchecked until you have it paid out in retirement.<\/p>\n

so it is permitted in principle, without allowances having to be repaid. For tax purposes, however, it is not privileged any differently from the ongoing pension: the share attributable to the subsidized portion is taxed at your personal tax rate in the year of payout. Because a large one-off payment can significantly increase your taxable income in that single year, you should work out carefully beforehand whether spreading it over several years would not be better for tax purposes.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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\"Price gains and distributions remain tax-free in the Altersvorsorgedepot throughout the entire accumulation phase. So the money can keep growing unchecked.\"<\/div><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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7. What happens for tax purposes if I pay in more than is subsidized – that is, more than \u20ac1,800 a year?<\/h3>\n

You may pay in up to \u20ac6,840 per year. The portion above \u20ac1,800 no longer receives an allowance and cannot be deducted as special expenses either. But it continues to grow tax-free in the securities account. This non-subsidized portion only becomes relevant for tax purposes again at payout – and is treated somewhat differently there from the subsidized portion, which we will come to shortly.<\/p>\n

8. How exactly is the payout taxed in retirement?<\/h3>\n

For the subsidized portion – that is, everything stemming from allowances, the special expenses deduction and the corresponding own contributions – full deferred taxation applies: the entire payout is taxed at your individual tax rate, including the returns achieved over the years. For the non-subsidized, excess portion, a more favorable taxation of the income share usually applies – here it is not the whole payout that is taxed, but only a notional income share.<\/p>\n

9. Are health and long-term care insurance contributions also payable on the pension from the Altersvorsorgedepot?<\/h3>\n

No, and many people underestimate that. Benefits from a private retirement provision contract such as the Altersvorsorgedepot are free of contributions for people with statutory health insurance. That differs markedly from occupational pension schemes, where social security contributions of around 11% are usually due on the payout. In tax and social security terms, the Altersvorsorgedepot is therefore in quite a favorable position in the decumulation phase.<\/p>\n

10. What should I bear in mind for tax purposes with what is known as a small-amount pension (Kleinbetragsrente)?<\/h3>\n

If your calculated monthly pension does not exceed a certain de minimis threshold, which is adjusted annually, you may have the entire capital paid out in one go without this counting as a non-qualifying withdrawal and without subsidies having to be repaid. For tax purposes, this lump-sum payment is nevertheless treated under the normal rules of deferred taxation – so it is worth choosing the timing of the payout wisely, with an eye on your other income in that year.<\/p>\n

11. Many people can have up to 30% paid out at once when their pension starts. How is that treated for tax purposes?<\/h3>\n

This partial capital payment does not count as a non-qualifying withdrawal, so it is permitted in principle, without allowances having to be repaid. For tax purposes, however, it is not privileged any differently from the ongoing pension: the share attributable to the subsidized portion is taxed at your personal tax rate in the year of payout. Because a large one-off payment can significantly increase your taxable income in that single year, you should work out carefully beforehand whether spreading it over several years would not be better for tax purposes.<\/p>\n

12. What happens for tax purposes if I terminate my contract early?<\/h3>\n

This has to be looked at case by case: early termination counts as what is known as a non-qualifying withdrawal. The consequence: all allowances received and the additional tax advantage from the special expenses deduction have to be repaid. That can become really expensive in tax terms. If you no longer want to pay in any money, it is almost always more sensible to make the contract paid-up rather than terminate it.<\/p>\n

13. What happens for tax purposes if I want to spend my retirement abroad?<\/h3>\n

That depends crucially on where. If you stay within the EU or the European Economic Area, your subsidy is retained in full. If, on the other hand, you move your residence permanently to a country outside the EU or the EEA, that also counts as a non-qualifying withdrawal for tax purposes – here too, the allowances and tax advantages received during the accumulation phase then have to be repaid. Anyone planning to emigrate should factor that in early.<\/p>\n

14. What is the tax situation when the Altersvorsorgedepot is passed on by inheritance?<\/h3>\n

In principle the assets can be inherited. For tax purposes, however, they are treated differently depending on who inherits. If you leave them to your spouse, the capital can be transferred to their own retirement provision contract without deductions – no repayment is due here. If other people inherit, children for example, the subsidy received generally has to be repaid, because the subsidy was tied to the deceased person’s own retirement provision.<\/p>\n

15. What changes for tax purposes if I use the capital for an owner-occupied property?<\/h3>\n

This home ownership pension subsidy (Eigenheimrente) is retained. You can withdraw the capital without this counting as a non-qualifying withdrawal, but it is then not handed over tax-free: it is recorded in what is known as a housing subsidy account (Wohnf\u00f6rderkonto) and taxed later on a deferred basis – although over a much shorter period than before: in future over five years instead of the roughly twenty years that used to be usual. In tax terms that is a noticeable improvement.<\/p>\n

16. Do different tax rules apply to the self-employed with the Altersvorsorgedepot than to employees?<\/h3>\n

The good news first: since the reform, the self-employed are for the first time eligible for the subsidy in principle, provided they file a tax return. For tax purposes, the same rules apply to them as to employees – special expenses deduction, more-favourable-treatment check, deferred taxation. The practical difference lies more in the fact that the self-employed have to take action themselves, because there is no employer automatically remitting contributions.<\/p>\n

17. What should I bear in mind for tax purposes when switching providers?<\/h3>\n

A pure provider switch within the new system is generally tax-neutral, as long as the capital is transferred directly from the old provider to the new one and is not paid out to you. The one important point: never have the money paid out to yourself in order to pay it in again somewhere else – that would count as a non-qualifying withdrawal. The switch must always take place as a direct transfer between the providers.<\/p>\n

18. Does the child allowance actually count as taxable income?<\/h3>\n

No. Like the basic allowance, the child allowance is not a separate item of taxable income at the time it is credited. It flows into your securities account and – together with the rest of the subsidized capital – is only captured later, at payout, under deferred taxation.<\/p>\n

19. What should married couples pay particular attention to for tax purposes?<\/h3>\n

Two things. First: even if only one partner is directly eligible for the subsidy, the other partner can benefit through indirect allowance entitlement, but has to pay in at least \u20ac120 a year themselves. This indirect allowance is capped at \u20ac175. Second: with the child allowance it has to be determined which parent receives it – depending on the individual tax situation that can be more or less favorable, and it is worth working it out together.<\/p>\n

20. Finally: what is your most important tax tip for someone starting out with the Altersvorsorgedepot now?<\/h3>\n

Two things I would pass on. First: do not let the subsidy tempt you into blindly paying in the maximum amount without looking at the costs of the provider in question – the subsidy is the same at every provider, the costs are not. Second: keep all documents on payments and allowance notices carefully. Particularly with a product that runs for decades and where the exact split between subsidized and non-subsidized capital will matter one day, complete documentation is worth its weight in gold for tax purposes.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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calculator<\/span>

What does the Altersvorsorgedepot give you?<\/h3>

Subsidy, tax advantage and potential account value in under a minute, using your own figures.<\/p><\/div><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Calculate your subsidy now!<\/span><\/path><\/svg><\/span><\/a><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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About the expert<\/h5><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t
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Stephan Riek<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t

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Diplom-Kaufmann and Steuerberater (tax advisor)<\/strong><\/p>\n

Stephan Riek is a Diplom-Kaufmann and a tax advisor by passion. In almost 25 years working as a tax advisor, he has supported numerous companies and private individuals on all tax matters. Stephan Riek works mainly in the Munich and Passau area. With his 15-strong team of tax advisors, tax assistants and other tax specialists, he looks after his clients from the office in the heart of Munich near the Wies’n and the office in Ruderting near Passau.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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20 tax questions on the Altersvorsorgedepot – an expert interview with Diplom-Kaufmann and Steuerberater Stepan Riek<\/p>\n","protected":false},"author":5,"featured_media":1779292296,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_metasync_otto_title":"","_metasync_otto_description":"","_metasync_otto_keywords":"","_metasync_otto_og_title":"","_metasync_otto_og_description":"","_metasync_otto_twitter_title":"","_metasync_otto_twitter_description":"","rank_math_title":"","rank_math_description":"","_yoast_wpseo_title":"","_yoast_wpseo_metadesc":"","_aioseo_title":"","_aioseo_description":"","_metasync_seo_title":"","_metasync_seo_desc":"","_metasync_breadcrumb_title":"","_metasync_primary_category":0,"_metasync_primary_product_cat":0,"_metasync_otto_disabled":"","_metasync_hreflang":"","_metasync_plugin_sync_ts":"","_metasync_robots_advanced":"","footnotes":""},"categories":[67],"tags":[],"class_list":["post-1779292295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-expert-interviews"],"_links":{"self":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/posts\/1779292295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/comments?post=1779292295"}],"version-history":[{"count":19,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/posts\/1779292295\/revisions"}],"predecessor-version":[{"id":1779292614,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/posts\/1779292295\/revisions\/1779292614"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/media\/1779292296"}],"wp:attachment":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/media?parent=1779292295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/categories?post=1779292295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/tags?post=1779292295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}