At the moment, the Dutch pension system has three components:
- state (standard) pension;
- pension received from work under an employment contract;
- private / individual pension.
Two new calculators have appeared on our website, allowing you to estimate how much state pension (old age) you can count on.
Every person who officially resided and / or worked in the Netherlands between the ages of 17 and 67 (there may be a slight increase or decrease in the period) is entitled to a pension from the state pension system - this is the so-called basic (standard) pension - AOW, accrued in accordance with Algemene ouderdomswet (AOW) - General Law on Old Age Pensions (1956).
In other words, in the Netherlands, the start date for your pension depends on when you were born. To determine your official (currently) individual retirement age, you can use our calculator.
According to the AOW Law, any person officially residing in the Netherlands is usually already insured and for each year of residence is entitled to 2% of the full AOW pension. Based on this, the full pension-AOW is calculated from the fact that, having been born in the Netherlands and not leaving this country for a long time, a healthy person has 50 years of pension experience. And if you lived or worked in the Netherlands during this period, then you have accumulated 100% AOW.
Full pension-AOW is tied to the minimum wage, with each couple being fiscal partners (we will talk about this write here), receives 50% of the minimum wage (for each partner). Single people are entitled to a pension of 70% of the minimum wage.
The minimum wage is approved in the Netherlands twice a year - on January 1 and July 1, in connection with this, the amounts of AOW pensions also change. So, as of January 1, 2022, the basic 100% net AOW is:
- 1244,35 euros per month for a single pensioner,
- 851,52 euros for each of the pair of married pensioners / fiscal partners.
For a preliminary calculation of your AOW pension, we suggest that you use calculator on our website.
As can be seen from the calculations made, the monthly amount of the AOW pension is not very large, especially for immigrants / emigrants, i.e. in case of non-permanent (within 50 base years) residence in the Netherlands.
How to be? If you are not eligible for the full AOW, you can apply for an AOW supplement. This is the so-called Additional income for the elderly - Aanvullende inkomensvoorziening ouderen (AIO). The AIO increases your pension to the minimum level in effect at the time of your retirement and applicable to you. What this amount will be depends on your specific situation.
Publication Date: 03.06.2022
