Pensions
Old Age Act (AOW) /
Old age pension scheme
› Maximum level of the AOW pension in the Netherlands equals 70% of (minimum) net wage.
› AOW pension is a flat-rate supplement.
› Applicable for all residents (or workers) based in the Netherlands older than 65 and those who have been residents (or workers) between the ages of 15 and 65.
› For every year of living (or working) in the Netherlands, 2% of the old age pension (full rate) is accumulated.
› Payable from the age of 64 in the Netherlands or any other countries that the Dutch tax authorities have signed a reciprocal pensions agreement with.
› Unaffected by other forms of income but depends on marital status.
Occupational pensions
(Bedrijfspensioen)
› Optional for employers but quite common in the Netherlands.
› Depends on the salary and contribution rate.
› Total occupational pension may rise up to 70% of the last salary if the collective labour agreement lasts for minimum (maximum) 35 (40) years.
Private pensions
› Obtained by individual pension providers.
› Most pension funds are already included in the occupational pensions.
More information can be found at ABP’s (pension fund for employers and employees in the Netherlands) pension guide and / or SVB (organisation that implements national insurance schemes in the Netherlands).
