Pension

A pension is income for later. When you retire you will receive a monthly income for the rest of your life, no matter how long you live. What will I get when I retire? When you stop working and reach the state pension age, you will receive money from the government. This state pension is called AOW . You often also save up more pension through your work. You receive a pension for as long as you live. You can also save up extra money for your retirement with a bank or insurance company. What you need to arrange If you are nearing retirement, you need to know what to do. Find out what you have to arrange when you retire.

When you stop working in the Netherlands, you retire. While you were working, you built up a pension based on contributions paid by you and your employer. You will therefore have an income when you stop working. AOW AOW stands for ‘Algemene Ouderdomswet’ (‘General Old Age Pensions Act’). This is the basic Dutch state pension that everyone who works in the Netherlands gets. You will receive this once a month, starting from around the age of 66 or 67. The amount depends on your age and your living situation. For more information about the state pension, visit the SVB website. Pension through your employer In the Netherlands, you also build up a pension if you work for an employer. You save money for your future retirement. This happens automatically if your boss has a pension scheme. In that case, your boss pays a fixed contribution each month for your future pension. You can ask your boss how much this is.