{"id":4447,"date":"2025-09-25T15:52:30","date_gmt":"2025-09-25T13:52:30","guid":{"rendered":"https:\/\/spin.nl\/ongecategoriseerd\/pension-in-the-netherlands\/"},"modified":"2026-01-21T14:51:27","modified_gmt":"2026-01-21T13:51:27","slug":"pension-in-the-netherlands","status":"publish","type":"post","link":"https:\/\/spin.nl\/en\/content\/pension-in-the-netherlands\/","title":{"rendered":"Pension in the Netherlands"},"content":{"rendered":"<section class=\"l-section wpb_row height_medium\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_grid cols_1 laptops-cols_inherit tablets-cols_inherit mobiles-cols_1 valign_top type_default stacking_default\"><div class=\"wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>How does retirement work in the Netherlands?<\/p>\n<p>The Dutch pension system consists of 3 pillars:<\/p>\n<ol>\n<li>the state pension,<\/li>\n<li>the pension you accrue through your employer,<\/li>\n<li>and any additional, individual retirement insurance policies.<\/li>\n<\/ol>\n<p><strong>The 3 pillars of the pension system<\/strong><\/p>\n<ol>\n<li><strong>  General Old Age Security Act (AOW).<\/strong><\/li>\n<\/ol>\n<p>The state pension is the first pillar. It is intended as a basic income. Everyone who lives or works in the Netherlands automatically accrues AOW.  <\/p>\n<p>The amount of your AOW depends on:<\/p>\n<ul>\n<li>Whether you live alone or live together;<\/li>\n<li>and how many years you have lived in the Netherlands.<\/li>\n<\/ul>\n<p>You can find the current amounts on the <a href=\"https:\/\/www.svb.nl\/nl\/aow\/bedragen-aow\/aow-bedragen\">Social Insurance Bank (SVB)<\/a> website.<\/p>\n<ol start=\"2\">\n<li><strong>  Pension accrual through your employer<\/strong><\/li>\n<\/ol>\n<p>The second pillar is the pension you accrue through IBM. This gives you an extra pension on top of your state pension later. <\/p>\n<p>IBM pays a portion of the premium, and you pay a portion yourself. IBM remits the premium to a SPIN. We invest the money. Do you have a DB pension? Then we pay your pension benefit to you on your retirement date. Do you have a DC capital? Then on your retirement date, you convert this capital into a pension benefit with an insurer or another administrator.      <\/p>\n<ol start=\"3\">\n<li><strong>  Individual supplementary pension plans<\/strong><\/li>\n<\/ol>\n<p>The third pillar consists of individual insurance policies, such as annuities and life insurance policies that you can take out with an insurer.<\/p>\n<p>In this <a href=\"https:\/\/vimeo.com\/696120527?fl=pl&amp;fe=vl&amp;pgroup=plc\">video<\/a>, we briefly summarize the above three points for you.<\/p>\n<p>For example, do you want to fill a pension gap or retire early? Then choose to make extra deposits into your DC capital with SPIN or take out an annuity with an insurer. Do you only have a DB pension with SPIN? Then you cannot make additional contributions.   <\/p>\n<p><strong>Future Pensions Act<\/strong><\/p>\n<p>The way pension is accrued through the employer is going to change. Learn more about this and what may change for you <a href=\"https:\/\/spin.nl\/new-pension-system\/?lang=en\">here<\/a>. <\/p>\n<p><strong>Types of pension providers<\/strong><\/p>\n<p>There are different types of pension providers:<\/p>\n<ul>\n<li><strong>Industry pension funds<\/strong><br \/>\nA fund for an entire industry, such as health &amp; welfare or the furniture industry. Often employers are required to join it for their employees. <\/li>\n<li><strong>Corporate pension funds such as SPIN<\/strong><br \/>\nLarge companies may have their own pension funds.<\/li>\n<li><strong>Occupational pension funds<\/strong><br \/>\nThese are for certain groups of self-employed people, such as general practitioners and medical specialists. Participation is usually mandatory. <\/li>\n<li><strong>General pension funds<\/strong><\/li>\n<\/ul>\n<p>A General Pension Fund (APF) is a pension fund that administers one or more pension plans. An APF manages one or more groups of schemes. A collectivity ring contains the pension schemes of various employers (groups) and industries. Employers can place their pension schemes in separate groups managed by one APF.   <\/p>\n<ul>\n<li><strong>Premium Pension Institutions (PPIs)<\/strong><br \/>\nA PPI runs schemes where the premium is fixed but the final benefit is not. This is called a defined contribution plan. A PPI can also provide advice and mediation.  <\/li>\n<li><strong>Pension Insurers<\/strong><br \/>\nEmployers can also place the pension for their employees with an insurance company.<\/li>\n<\/ul>\n<p><strong>Oversight of the pension system<\/strong><\/p>\n<p>The <strong>Netherlands Bank (DNB)<\/strong> and the <strong>Financial Markets Authority (AFM)<\/strong> supervise pension funds, insurers and PPIs.<\/p>\n<ul>\n<li>DNB ensures that SPIN handles participants&#8217; money with care and has a controlled and sound business operation.<\/li>\n<li>AFM looks at whether pension providers are informing their members (employees, pensioners and ex-partners) properly and clearly.<\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"How does retirement work in the Netherlands? The Dutch pension system consists of 3 pillars: the state pension, the pension you accrue through your employer, and any additional, individual retirement insurance policies. The 3 pillars of the pension system General Old Age Security Act (AOW). The state pension is the first pillar. It is intended...","protected":false},"author":8,"featured_media":4448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-4447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-content"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pension in the Netherlands - Stichting Pensioenfonds IBM Nederland%<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/spin.nl\/en\/content\/pension-in-the-netherlands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pension in the Netherlands - 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