As of 1 January 2018, the government is raising the age at which you can retire according to pension schemes in the Netherlands (pensionable age) to 68 years. The average age of Dutch people is increasing. Once the average Dutch person lives another year longer, the government will consider whether the pensionable age needs to be increased.
Implications for the pension scheme
Representatives of employers and employees from the hospitality and catering sectors choose how to incorporate the increased pension age into the pension scheme. They can choose to raise the pensionable age in the pension scheme or to lower the accrual rate of the pensions. As of 2018, it has been decided to raise the pension age to 68 with an increase in the accrual rate from 1.65% to 1.701%. This means that you will accumulate more pension overall without paying more premium, but your pension will start a year later.
What does this mean for you as a participant?
The target age for 'retiring' is going to 68 years. You will receive a notification from the Pension Fund for Hospitality and Catering 9 months before your state pension (AOW) begins, asking if you want your pension to start. At the Pension Fund for Hospitality and Catering, you can start your pension up to 5 years before and up to 5 years after your state pension age. You can therefore choose when to start your pension, for example, when your state pension begins. This decision does have financial implications for the amount of your pension because you are starting it earlier. Whether this is possible depends on your financial situation. Make sure you are well-informed before making a choice. You can do this via www.phenc.nl. There you can see exactly what the consequences are for the amount of your pension if you stop working before the age of 68, or if you continue working longer. We will inform you personally before the end of this year.