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Retiring later: what changes?

Your old-age pension normally commences on your 67thbirthday, but you can choose to retire later. At the Astellas pension fund, this can be up to five years after your state pension date. Previously, if you chose this, we were obliged to check whether you were still actually working, on a full-time or part-time basis. You had to complete an annual declaration for this purpose. Although the legislative proposal to abolish this criterion has not yet been accepted, the Dutch tax administration has indicated it will apply from 1 January 2017. This means that you will no longer have to complete the declaration as from this year.

Retiring earlier: what changes?

In principle, a pension is intended for people who no longer work. Employees who arranged for their pension to commence before their 60th birthday had to sign a declaration stating that they did not intend performing any paid work again. That age limit has also increased and been made dependent on the state pension age. From up to five years before your state pension age, you can now receive part-time pension and salary without paying any additional tax.

Increase in state pension age

The state pension age is currently 65 years and 9 months. The age at which employees can receive state pension for the first time is increasing incrementally to 67 in 2021. The state pension age could increase even further after that. If you were born after 30 September 1955, your exact state pension age is not yet known. You can check your state pension age on the website of the Social Insurance Bank (SVB) .

Your options

It is possible to retire earlier or on a part-time basis within our pension scheme. You can also retire later.

• Read more about the options of your pension scheme.
• Read more about the increase of the state pension age and the target retirement date .

If have any questions concerning your pension, please contact us. Our staff will be only too pleased to help.