Your employer’s pension provisions must satisfy at least the following standards:
- The pension base equals the pensionable salary less the minimum tax deductible. Pension is not accrued on the deductible because the Dutch state pension benefit (AOW benefit) under the General Old Age Pensions Act (Algemene Ouderdomswet) is taken into account.
- The pensionable salary equals the annual salary, if and to the extent that this does not exceed the maximum pensionable salary allowed by law based on full-time employment. Individual employers may make additional pension provisions.
- The target retirement age is 68 years.
- Until the transition date but no later than the prevailing end date of the statutory transition period, the lifelong partner’s pension through marriage or otherwise amounts to 70% of the retirement pension accrued or to be accrued by the participant.
- The percentage for the partner’s pension is 28% of the pensionable salary on the chosen transition date, but no later than the prevailing end date of the statutory transition period.
- Until the transition date but no later than the prevailing end date of the statutory transition period, the orphans’ pension per child amounts to 14% of the retirement pension accrued or to be accrued by the participant; The number of children who are entitled to an orphans' pension may be limited to two.
- The percentage for the orphans’ pension is 14% of the pensionable salary (for a half orphan) on the chosen transition date, but no later than the prevailing end date of the statutory transition period.
The pension provision must provide for the possibility to accrue pension entitlements under the 80-80-100 scheme