Types of pension
Your employment will end on the day you reach pensionable age. At this point you may retire completely, however other options are available. You may decide to retire early, or – in consultation with your employer – start a new job after reaching pensionable age.
The General Old Age Pensions Act (AOW) contains a basic provision for all Dutch inhabitants who reach pensionable age. As an employee of a Dutch university, you will receive an additional pension on top of the AOW, from the ABP General Pension Fund for Public Employees. If you were born after 1950 and wish to access your accrued pension at age 60, the ABP selective pension scheme will allow you to do so. If you wish to know about the current status of your pension, contact the ABP or go to ‘Mijn ABP’ on their website.
Another option is part-time pension, which means you continue to work part-time while receiving some of your pension. You will continue to accrue pension rights for the hours you continue to work.
The following conditions apply to part-time pensions:
- Your pension must remain with the ABP.
- A part-time pension is only possible from age 60 and until five years after you reach pensionable age.
- Part-time pensions are only possible in steps of at least 10%.
If you start a new job at the university or elsewhere at age 55 or over and earn a lower salary compared to your previous job, you can negotiate with your employer to base your pension accrual on your previous salary. This is not possible if you earn less due to working fewer hours.