The Netherlands, quality of life
The Netherlands is known for many things; windmills, clogs, its high standard of living, quality of life an good healthcare. Seems like an attracting country to retire. But there are some things you need to know before packing your bags. Pension requires good planning! If you want help with a good financial planning, contact us!
Straight to;
The Dutch pension system
If you want a sustainable and robust pension system that provide the country’s elderly population with a stable income, the Netherlands is a safe bet. The Dutch pension is based on three pillars; state, workplace and private pensions.
State
The first pillar, state, is administered by the Sociale Verzekeringsbank (SVB). They respect the terms of the Algemene Oudersdomswet, or AOW. The AOW is a Dutch law which states that everyone born before a specific date, stated each year, gets their share of the state pension (AOW). This state pension is the base layer of the Dutch pension system. Not everyone can claim this state pension in the Netherlands, each year you live or work in the Netherlands you build 2% of the state pension. This means you need to live/work at least 50 years in the Netherlands before you get the full 100% of this state pension. This year 2025 (when married or living together) the AOW is € 13.856. If you live alone the AOW will be € 20.201 gross.
PensioenVizier provides clear advice and insight into the costs and benefits, and all agreements are recorded in a convenient booklet, enabling us to easily access and review our pension and financial planning information and agreements at any time.
Workplace.
The second pillar is the occupational or company pensions. These are funded by the employer and employee and are an addition to the AOW. In some industries these company pensions are obliged, in some industries they are voluntarily. A company pension has also three types of social security; Elderly pension, Relatives pension, and disability coverage. The last two types are charged on the employer but everything for the elderly pension is covered by the employer and the employee. Do you want to know more about the possibilities? PensioenVizier can help!
It is also possibly for some countries to transfer international pensions to retire in the Netherlands. There are agreements in place to prevent double taxation. If you want to know all the inns-and-outs of the Dutch company pension? Click here for a free consult!
Private pensions
The third pillar is completely funded by voluntary personal contributions. This means everything you saved up by yourself like savings and/or investments. If you want to retire early In the Netherlands this pillar is there to support the years you don’t get state and or company pensions. Do you want to know how to save for an early retirement? Contact us!
Pension Advice
We know the Netherlands is a good place to reside when you’re ready for a well earnt retirement. However, when planning to move to the Netherlands, please seek professional financial advice. This way there is someone who can guide you when moving your pensions to the Netherlands and make sure this is the right thing to do!
If you are looking to find a good financial advisor in the Netherlands, click here to contact us!
Naturally all documents and communication can be produced in English.
