What is a pension?

If you live or work in the Netherlands you build up AOW pension. This is a basic state pension. You will receive it from the day on which you reach state pension age. It is paid into your bank account by the Social Insurance Bank (SVB).

If you move abroad, you usually stop building up AOW state pension, although there are some exceptions. How much AOW pension you get depends on the country where you live. In some countries you will get a lower AOW pension.

Find out more about AOW pension abroad

If you are employed in the Netherlands, you are probably building up a workplace pension  through your employer. Your employer pays an amount into the pension fund each month. An additional contribution is often withheld from your pay. This is how you automatically set aside money for when you retire. When you retire, you will receive monthly payments, supplementing the basic state pension (AOW).

If you work abroad, whether or not you build up pension depends on what your employer has arranged. Ask your employer about this.

Early retirement means lower pension payments

If you want to retire early, contact your pension provider to ask if you can start receiving your pension earlier. Keep in mind that the monthly pension you receive will be lower, because your accrued pension has to be spread over a longer time.

You can also retire later than the state pension age. In that case you will be building up pension for longer and receive higher monthly payments when you retire.

See the list of pension providers on mijnpensioenoverzicht.nl.

You can also put money aside for your retirement yourself. This is useful if you are self-employed or if you want to have more money when you retire, for example. Financial service providers, like banks or insurers, offer personal pension products. These supplement the AOW pension and any workplace pension you may be entitled to.