State retirement age by 2024

The past few years have seen the state retirement age in the Netherlands steadily increasing. This has to date been done by fixed increments, which it will continue to do until year-end 2021, whereas from 2022 onwards the state retirement age will be linked to the life expectancy trend. The average residual life expectancy of an individual aged 65 serves as the basis for the annual assessment of whether the state retirement age should be increased. If it is decided that this would be appropriate, the relevant announcement will be made five years in advance. The Dutch Minister of Social Affairs and Employment has announced that rather than being ratcheted up, the state retirement age for 2024 will be retained at its then level of 67 years and three months. Although the residual life expectancy will turn out greater in 2024 than it was in previous years, the increase has been deemed insufficient to warrant a further increase in state retirement age.

It is the reference retirement age – linked as it is to life expectancy in a similar manner as is the state retirement age and remaining unchanged, at 68 years, throughout 2020 – which serves as the point of departure where it concerns the tax treatment of supplementary pension schemes.

Dutch version: AOW-leeftijd in 2024