When will I receive my state pension (AOW) and when can I retire?

These are two questions that often get confused: when will I receive my state pension (AOW) and when can I retire? Yet, they are very different things. Your state pension age is fixed, but you can often choose to start your private or occupational pension earlier or later. How exactly does that work?

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When is the state pension (AOW), what is the official age?

The state pension age in 2025 and 2026 is set at 67. This applies to everyone reaching the state pension age in those years. After that, the age will gradually rise in line with life expectancy. It is expected to reach 67 years and a few months between 2028 and 2030, and potentially 68 years around 2035. This is based on current CBS projections and is reassessed annually.

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How is the state pension age determined?

The government links the state pension age to life expectancy as calculated by the CBS. The formula: for every year we live longer, the state pension age rises by eight months. The goal is to maintain at least twenty years between your state pension age and your expected death. Your personal state pension age depends on your date of birth and can be checked via the Sociale Verzekeringsbank.

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When can I retire?

This is where the confusion lies. The state pension (AOW) and retirement are not the same. The AOW is a basic government benefit that starts at the same time for everyone. Retirement can consist of several parts: the state pension, pension through your employer, and your own savings such as an annuity or pension investment.

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The difference? Your state pension age is fixed, but you can often choose a flexible start date for your other pensions. Exactly how much flexibility you have depends on your pension scheme. Stopping work early is possible, but you will have to bridge the gap yourself until your state pension begins.

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When do I receive my pension if I save for it myself?

Are you building up your own pension via an annuity or pension investment, such as with Vive? Then the tax rules for the third pillar apply. You may start your benefits from five years before your state pension age, but never earlier. You must start at the latest in the calendar year following the year in which you reach the state pension age. If you wait too long, the Tax Authorities will view this as a surrender of the policy and you will pay heavy penalties.

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When can I stop working early?

Stopping early is possible, but not through the state pension. You only receive that at the official age. However, you can stop earlier by building up sufficient personal wealth, starting your annuity payments earlier, or using schemes through your employer. Note: an annuity may never start earlier than five years before your state pension age.

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With Vive, you can see exactly how much you have built up in the app and what this means for your options. This way, you know whether stopping early is feasible.

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Why is the state pension age rising?

Simple: we are living longer. The government wants to keep the state pension affordable and therefore links the age to life expectancy. For younger generations, this means the state pension age will likely rise further. Born in 1970? Expect a state pension age of around 68. Born after 1990? The projection is between 68 and 69 years.

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Don't want to be dependent on the state pension alone? Check out the options for pension for the self-employed or read more about pension investing.