What do you need to do if...
Three practical tips:
- How do you check whether your pension will be enough?
- How can you buy additional pension?
- Pension and tax: what is the current situation?
How do you check whether your pension will be enough?
When you retire, you no longer have any income from your work. You do, however, receive old-age pension if you accrued pension via your employer. You can see here how much pension you have accrued. But is that enough for you? Check out the Nibud site for practical tips and tools. Check your expected income against your expected expenditure and also use the TNO Pension Fund Pension Planner Mijn Pensioen.
How can you buy additional pension?
The three pillars of your pension accrual are the state pension (AOW), the pension via your work, and the supplemental pension you arrange yourself. For instance, you can supplement your pension by means of bank savings or by taking out insurance, such as an annuity. You can also accrue extra pension capital voluntarily with TNO Pension Fund if you are employed by one of the affiliated employers.
Pension and tax: what is the current situation?
Income tax and income-related healthcare contributions are deducted from your gross pension payment. What is helpful for pensioners is that you are exempt from almost all social security contributions. And when you receive state pension (AOW), you fall in a lower tax bracket. But if you receive other pensions besides your state pension (AOW) and TNO Pension Fund pension, the correct income tax will then be charged via income tax. Adding all the pension payments together may result in you ending up in a higher tax bracket.