A detailed introduction of Dutch immigrant pension system

The Netherlands is one of the economically developed countries, attracting many immigrants. What is the pension system in the Netherlands? I am here to sort out the detailed introduction of the Dutch immigrant pension system, hoping to help you.

I. Overview

The Dutch pension system combines the pay-as-you-go system, that is, employees pay welfare funds for retirees and personal investment system.

Through the personal investment system, collective individuals can make high-risk and low-risk investments to make up for the part they get from the state pension. It is precisely because these different models constitute the three pillars of the Dutch pension system.

Second, different types of pension funds.

1. Industry pension fund: covering employees in a certain industry such as hotels, restaurants, retail, construction or people's livelihood services.

2. Enterprise pension fund: for companies.

3. Independent professional pension fund: for medical experts, dentists and their related professionals.

3. How old can I get a pension?

According to the regulations, retirees over the age of 65 can receive it and provide basic welfare remuneration with a maximum of 70% of the minimum net salary.

According to the General Old Age Law, which came into effect on 1957, people aged 15-65 who live or work in the Netherlands have the right to receive a state pension.

4. How much national pension can you get?

How much you can get depends on the pension rights you established during your stay in Holland.

In the Netherlands, every time people pay medical insurance every year, they accumulate 2% of the state pension allowance, and people who don't work can also accumulate the right to receive the state pension.

5. What is the maximum amount I can receive?

The standards of each group are different:

Cohabitation couples: each person can get about 700 euros a month.

Living alone: about 1000 euros per month.

Dutch national pension only provides limited financial benefits for retirees, and other pillars are benefits that need to be supplemented.

6. What should I do if I want to live in other countries when I receive a pension in the Netherlands?

If you emigrate before retirement, you can get a reduced national pension, because you will no longer be protected by the AOW pension and will no longer accumulate pension rights.

If you immigrate after retirement, you can receive a Dutch national pension (pillar 1), depending on the country where you immigrate. You can visit SVB's immigration page to see if your target country will affect your national pension.

Sometimes, expatriates can receive resettlement allowance from SVB, depending on their country of birth and family status.

Generally speaking, people who have obtained Dutch nationality or permanent residency can receive a state pension as long as they live or work in the Netherlands, but the pension is proportional to your time in the Netherlands and must live in the Netherlands or a specific country.

Whether you can receive the pension allowance from the pension fund depends on whether you have signed a pension contract with your employer and whether you have kept the record of the Dutch pension plan if you immigrate. The amount you get depends on your working years and salary.

Or you can take the initiative to buy pension products and receive allowances.