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A pension account lets you build up extra capital yourself. You may also benefit from tax relief, giving you more to spend later. What a way to enjoy your retirement!
Reasons to top up your pension now:
You’ll avoid paying tax in Box 3
You’ll pay less wealth tax, as pension accounts are exempt from this tax.
You can get up to 49.5% tax relief
Use your annual margin and get up to 49.5% tax relief.
The interest-on-interest effect
The interest-on-interest effect means you earn higher returns.
What is my current situation?
I plan to retire in 10 years’ time
This is the right time to check your pension and work out how much you think you’ll need later. Investing 30 minutes of your time in exploring your pension now will avoid nasty surprises when you reach retirement age. You don’t have to do it all yourself; we’ll walk you through the process, step by step.
Even if your pension is on track for later, you may still benefit from tax relief by topping it up now. You can get tax relief of up to 49.5% on your income tax for the amount you deposit into your pension account within your annual margin. And you’ll avoid paying tax in Box 3.
I plan to retire in 20 years’ time
Your pension may seem a long way off, but it’s still a good idea to check how things stand. This gives you plenty of time to make any adjustments you think necessary.
For example, you could start putting €50 or €100 a month aside for your pension. If you decide to take early retirement in 10 years’ time or travel the world, you’ll have saved a nice little nest egg. And the interest-on-interest effect means that your capital will keep on growing.
I plan to retire in 30 years’ time
At your age, it’s not surprising that you haven’t made firm plans for your retirement yet, or thought about how much income you’ll need when you retire. There’s still plenty of time for that.
However, if you put aside as little as €25 or €50 per month, you’ll have saved a tidy sum by the time you’re 50. By that time, you might have a better idea of what you want to do after retirement and you’ll have taken a nice step towards making your plans a reality.
I plan to retire in 10 years’ time
This is the right time to check your pension and work out how much you think you’ll need later. Investing 30 minutes of your time in exploring your pension now will avoid nasty surprises when you reach retirement age. You don’t have to do it all yourself; we’ll walk you through the process, step by step.
Even if your pension is on track for later, you may still benefit from tax relief by topping it up now. You can get tax relief of up to 49.5% on your income tax for the amount you deposit into your pension account within your annual margin. And you’ll avoid paying tax in Box 3.
I plan to retire in 20 years’ time
Your pension may seem a long way off, but it’s still a good idea to check how things stand. This gives you plenty of time to make any adjustments you think necessary.
For example, you could start putting €50 or €100 a month aside for your pension. If you decide to take early retirement in 10 years’ time or travel the world, you’ll have saved a nice little nest egg. And the interest-on-interest effect means that your capital will keep on growing.
I plan to retire in 30 years’ time
At your age, it’s not surprising that you haven’t made firm plans for your retirement yet, or thought about how much income you’ll need when you retire. There’s still plenty of time for that.
However, if you put aside as little as €25 or €50 per month, you’ll have saved a tidy sum by the time you’re 50. By that time, you might have a better idea of what you want to do after retirement and you’ll have taken a nice step towards making your plans a reality.
Step-by-step plan for a good pension
A good pension starts with a few checks. Follow the step-by-step plan and discover how you can supplement your pension. This way, you can take the first step today towards a financially carefree future.
Step 1: check your pension
It only takes 5 minutes to check how much pension you’re entitled to using Mijnpensioenoverzicht. Do you know the amount? Then you can check if it will be sufficient. You can use the Pensioenschijf-van-vijf by Nibud (in Dutch) for this. You'll immediately see whether you're on track with your pension or if you need to take action.
Step 2: calculate your annual margin
You benefit from several tax advantages when building up your extra pension in a pension account. The money in this account is excluded from Box 3, meaning you don’t pay wealth tax on it. Additionally, you can top up your pension up to a certain amount with a possible tax advantage of 38% to 49.5%. In Dutch this is called 'jaarruimte' (annual allowance). Do you already know how much pension you want to set aside? Then calculate your jaarruimte.
Step 3: open a pension account
Within a pension you save and invest for your top-up pension with a possible tax credit. At ABN AMRO, such a pension account is called the Pensioenaanvulling.
Difficult concepts explained
What is a pension shortfall?
A pension shortfall means that your monthly expenditure will exceed your pension payments once you retire. You can make up for this shortfall yourself.
What is annual margin?
You can put some extra money aside for your pension and potentially get a tax credit for it. This tax credit is conditional on your additional deposits staying below a certain limit. We call this your annual margin. In Dutch it is called 'jaarruimte'.
What are the pension pillars?
The first pillar of the Dutch pension system is the state pension, known as ‘AOW’, which stands for General Old-Age Pensions Act. The second pillar is your employee pension. You can top up your pension with a third pillar in the form of a top-up pension.
Frequently asked questions about topping up your pension
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