OAPES or salary? See what you keep at 62.
Enter your salary, how much you want to save and how many years you plan to stay with the company. The calculator compares contributing to an OAPES occupational pension with taking the same amount as salary, paying income tax on it and investing the rest yourself at the same return.
Read what Law 5327/2026 changes →The OAPES leaves you €8,568 more at 62
You leave the company at 45, after 10 years, and leave the money invested. At 62 you collect €15,120 net from the OAPES, against €6,552 if you had taken the same amount as salary and invested it yourself.
- OAPES, net at 62
- €15,120
- As salary, invested
- €6,552
- Difference
- +€8,568
Each salary payment you put €60.00 into the OAPES, but your take-home pay drops by only €46.80: the other €13.20 is tax you don't pay. Your employer adds another €60.00.
- OAPES
- Salary + investment
Net value after the payout tax. After 45 no new money goes in; the value changes only with the return. The OAPES pays out at 62.
Each bar is a possible leaving year. Gold: the OAPES wins. Blue: salary wins. Click a bar to see it in detail.
If you cash in early
What if, instead of waiting until 62, you collected the account earlier? Before 62 the 10% rate does not apply: the amount is added to that year's income and taxed on the standard employee scale (Article 93 of Law 5327/2026).
Before 55, cashing in is only possible if the plan allows it in hardship cases (e.g. 12 months of continuous unemployment) or under terms kept by existing members.
The payout is added to that year's salary and taxed in the top bracket.
- Account at 45
- €16,800
- Tax on the standard scale (29.7% of the amount)
- −€4,995
- Net in hand at 45
- €11,805
What you have at 62 in each case
- Keep the OAPES until 62€15,120
- Cash in at 45, invest until 62€11,805
- As salary, invested€6,552
Waiting until 62 leaves you €3,315 more than cashing in at 45. Even cashing in at 45, you end up €5,253 above the salary scenario.
The net payout is invested at the same return until 62, so all three are compared at the same moment. Tax uses the 2026 scale for a taxpayer with no children.
Where the difference comes from
- Income tax you didn't pay, with its returns
- +€1,848
- Employer contributions, with their returns
- +€8,400
- Payout tax 10%
- −€1,680
- Difference in favour of the OAPES
- +€8,568
Totals until you leave
- Your contributions
- €8,400
- Employer contributions
- €8,400
- Tax you saved
- €1,848
- Would have been net salary
- €6,552
Year by year
| Year | Age | Your contribution | Employer | Tax saved | OAPES net | Salary + investment |
|---|---|---|---|---|---|---|
| 2027 | 36 | €840 | €840 | €185 | €1,512 | €655 |
| 2028 | 37 | €840 | €840 | €185 | €3,024 | €1,310 |
| 2029 | 38 | €840 | €840 | €185 | €4,536 | €1,966 |
| 2030 | 39 | €840 | €840 | €185 | €6,048 | €2,621 |
| 2031 | 40 | €840 | €840 | €185 | €7,560 | €3,276 |
| 2032 | 41 | €840 | €840 | €185 | €9,072 | €3,931 |
| 2033 | 42 | €840 | €840 | €185 | €10,584 | €4,586 |
| 2034 | 43 | €840 | €840 | €185 | €12,096 | €5,242 |
| 2035 | 44 | €840 | €840 | €185 | €13,608 | €5,897 |
| 2036 | 45 | €840 | €840 | €185 | €15,120 | €6,552 |
| 2037 | 46 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2038 | 47 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2039 | 48 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2040 | 49 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2041 | 50 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2042 | 51 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2043 | 52 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2044 | 53 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2045 | 54 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2046 | 55 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2047 | 56 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2048 | 57 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2049 | 58 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2050 | 59 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2051 | 60 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2052 | 61 | €0 | €0 | €0 | €15,120 | €6,552 |
| 2053 | 62 | €0 | €0 | €0 | €15,120 | €6,552 |
What the numbers don't show
- OAPES money is locked: nothing is paid before 55, except in hardship cases a plan may allow (e.g. disability or 12 months of continuous unemployment), which are then taxed under the standard scale. An investment outside the OAPES is available whenever you need it.
- If you change jobs you can move your account to another OAPES or occupational fund (TEA) free of charge.
- In case of death, the balance is paid to your beneficiaries.
- Inflation reduces the purchasing power of both scenarios equally, so it doesn't change the comparison.
Assumptions
- Income tax on the employee scale of Law 5246/2025 (from 1/1/2026), for a taxpayer with no dependent children, with the €777 tax credit that tapers above €12,000.
- The employee contribution is deducted from taxable income. Employer contributions are not treated as your income.
- Contributions start in 2027, so the new flat payout tax of Law 5327/2026 applies: 10% for a lump sum at 62–67, 5% after 67 (half those rates for a periodic payout).
- Returns compound annually and each year's contributions earn, on average, half a year's return.
- There is no matching in the salary scenario: the employer would not pay its share as a raise.
- Employer contributions always count: even if you leave before vesting, Article 79 of Law 5327/2026 provides that you receive the contributions paid by you or on your behalf.
This is an indicative calculation based on the stated assumptions and is not tax or investment advice. Returns are not guaranteed.
Have a question about your own plan?
Send us your question and we will reply by email. Please include your employer: the terms of every group plan differ, and this lets us answer about your contract rather than in general.
Want an OAPES for your company?
We design group pension plans that use the new 35% limit and are ready to be registered as OAPES before 31 December 2027.
