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Transfer of pension contributions from the Netherlands
25th Oct 2024
While working in the Netherlands, you contributed to the Dutch pension system. Are you wondering what will happen to your pension contributions now that you have left the Netherlands and returned to your home country?
Overview:
Netherlands pension system
Transfer and payment of pension contributions from the Netherlands
Transfer of contributions from the employee pension system
Phased payment of retirement contributions from the state pension system
Phased payment of retirement contributions from the employee pension system
Phased payment of retirement contributions from the voluntary pension system
Netherlands pension system
The Netherlands pension system consists of three pillars:
| I. Pillar | II. Pillar | III. Pillar |
|---|---|---|
| AOW (Algemene Ouderdomswet) | Beroepspensioenfonds or Bedrijfspensioenfonds | Individueel Pensioensparen |
| State pension system for all residents and employees | Pension system for employees, to which employees and employers contribute | Voluntary pension savings, especially for freelancers and those not covered by the second pillar |
The state pillar AOW (Algemene Ouderdomswet) - this is the basic pension system to which everyone who lives or works in the Netherlands belongs. The state pension is a government-guaranteed basic income after retirement age. The amount of the state pension is determined according to the development of the minimum wage and family status. Entitlement to this pension arises for each year in which the taxpayer lives or works in the Netherlands. The state pension is paid by the Netherlands social insurance company, the SVB (Sociale Verzekeringsbank).
The employee pillar Beroepspensioenfonds - is a pension system made up of employee and employer contributions to pension funds. The employee pension is paid by the pension fund as an additional benefit to the state pension.
The private pillar Individueel Pensioensparen - operates on the principle of voluntary contributions, or "savings", through banks or insurance companies. It is mainly used by freelancers or other taxpayers who are not able to contribute to the employee pension pillar. The bank or insurance company chosen by the contributor is responsible for paying the pension.
Use the consultation service on transferring pension contributions from the Netherlands:
Transfer and payment of pension contributions
from the Netherlands
You do not lose your entitlement to gained pension contributions when you stop working in the Netherlands and return to your home country. It is possible to apply for them in the form of:
- transfer to the home organisation that administers pensions - transfer of pension contributions is only possible from the employee pension system,
- phased payments at retirement age - pension contributions can be paid from state, employee and voluntary pension systems.
Transfer of contributions from the employee pension system
The transfer of pension contributions from an employee system is possible under certain conditions set by each pension fund. You should therefore contact the given pension fund to which you belong to find out about the possibility of transferring.
of pension contributions from the Netherlands
Phased payment of retirement contributions
from the state pension system
You must apply for a Netherlands state pension through the social security institution in your home country 6 months before reaching Netherlands retirement age (to ensure timely payment of your Netherlands pension). The Netherlands social security institution will evaluate the entitlement to the pension payment. If the entitlement has been established, the pension will be paid by the Netherlands social security institution at monthly intervals.
In 2024 the retirement age in the Netherlands is set at 67 years.
Phased payment of retirement contributions
from the employee pension system
The Netherlands pension fund, to which your employer has contributed in addition to you, will send you a request for pension payments a few months before you reach retirement age. The completed application must be sent back to the pension fund. Your pension will be paid into your account each month. You must send a completed and certified 'Bewijs van in leven zijn' form to the fund each year so that you do not lose your right to receive your pension for the following years.
Read also:
Tax returns and refunds from the Netherlands
Have you worked in the Netherlands? Apply for a tax refund.
Phased payment of retirement contributions
from the voluntary pension system
Entitlement to a pension from the voluntary system starts when you reach retirement age. The amount of your pension depends on the amount you have contributed to the private pension system and how long you have contributed.
We will help you with transferring your pension contributions from the Netherlands. Contact us.
of the pension contributions