Are you looking for information about your retirement?

In this blog post we discuss the different pillars of the Dutch pension system: AOW, pension funds and annuities. We explain how they work, what you can do with them and what to look out for.

AOW (General Old Age Security Act).

The AOW is a basic pension that everyone in the Netherlands receives who has reached the AOW age. The amount of the AOW depends on your living situation and whether you are married or in a registered partnership.

Pension funds

In addition to the AOW, you have probably accrued a pension through your employer. This pension is arranged through a pension fund. There are different types of pension funds, each with its own rules and conditions.

Annuities

An annuity is a private retirement plan. You can take out an annuity insurance policy to build up extra retirement income. There are two types of annuities:

  • Savings annuity: With this, you build up capital that you can later pay out in a lump sum or in installments.
  • Benefit annuity: With this, you purchase a periodic benefit that you receive for a specified period of time or until your death.

Factors to consider in your retirement planning

There are many different factors you can consider when making choices about your retirement. Consider, for example:

  • The amount of your current income.
  • The amount of your desired pension.
  • Your risk appetite.
  • Your fiscal situation.

At buro philip van den hurk we are happy to help you get a clear overview of your retirement options. We will discuss your personal situation and wishes, and give you tailored advice on how to optimize your retirement. Please contact us for an informal conversation.