Dutch retirement age frozen
Based on new life expectancy figures from Statistics Netherlands (CBS), the Dutch Cabinet has determined that the retirement age in 2023 will stay the same as it was in 2022, namely 67 years and three months.
Announcement five years in advance
In order to keep pension provisions affordable, in 2012 the Dutch government decided to start gradually pushing the pension age back. Next year, the pension age will be 66 and every year until 2021, four months will be added to the legal retirement age.
The Dutch government has to inform citizens about the legal retirement age five years in advance. Last year, the retirement age for 2022, based on life expectancy, was set at 67 years and three months.
Statistics Netherlands forecast new life expectancy figures this year, based on more recent mortality rates. These figures were lower than originally estimated in 2016. Life expectancy in 2023 is lower than first predicted and therefore the retirement age will not increase. This will be the first time since 2013, that the retirement age has not risen.
Life after retirement
According to the figures from CBS, those who turn 65 in 2023 are expected to live for another 20,5 years. CBS anticipates that a little more than half of these 65-year olds will reach 86 years of age.
In 1990, only slightly more than 35 percent of 65-year olds made it to 86. The improvement in life expectancy in the Netherlands can be attributed to the advancement of medicine, better hygiene, diet and living conditions.