Blog: What choices do you have when you retire?

11 November 2021 | Blog

Many people have been talking about their retirement for years before they retire. But how does a retirement actually work? What do you have to arrange yourself? And when will you retire? In any case, do not wait until your AOW (state pension) commences to learn more about your pension. There are several options and you can easily determine which option suits you best.


In addition to regular retirement at the moment your AOW commences, there are various options:

Retire earlier: the age at which you retire is in our pension scheme is 68 years. Your AOW usually commences earlier. This means that you always have to retire before the pension age of 68 years if you want your pension to start at the same time as the AOW, your state pension. You can also retire before the commencement of the AOW. You can potentially use a AOW bridging pension in that case. Read more about early retirement.

Semi-retirement: you can also choose, in consultation with your employer, have a part of your pension commence earlier. Read more about semi-retirement.

Exchanging partner’s pension for extra retirement pension: you can opt for this exchange if your partner already has a good retirement pension. If you do not have a partner, the partner’s pension is automatically exchanged. If you opt for this exchange, you will receive a higher pension yourself, but if you die, your partner and/or children will receive less or no pension at all. This depends on the percentage of partner’s pension that you exchange. Read more about this exchange.

Exchanging retirement pension for extra partner’s pension: you can opt for this exchange if there is no or not enough partner’s pension for your partner and/or orphan’s pension for your children. If you choose this option, you will receive a lower pension yourself, but your partner and/or children will receive a higher pension if you die. Read more about this exchange.

Vary the amount of your pension: you can also vary the amount of your pension. You will then receive a little more pension at the start of your retirement and a little less later on. When your AOW commences you can opt for a 10% higher retirement pension in our pension scheme during the firsts five years. Read more about varying the amount of your pension.

Retirement Planner On Track

Our Pension Planner ‘’On Track’’ helps you plan your pension and can give you insight into your total financial picture. After logging in with your DigiD, please choose English at the upper right corner to see the English Pension Planner.

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