You've worked hard for many years and your retirement is drawing near. You might already be preparing for your life as a pensioner. You know that in 2020 your AOW will start paying out when you’re 66 years and 4 months old, but will your pension in ING CDC Pensioenfonds start paying out at the same time?

The answer is short: no, it will not. The Dutch government and ING CDC Pensioenfonds have not coordinated the dates on which your AOW and company pension start paying out.

Government determines AOW retirement age
Your AOW retirement age depends on your date of birth. Your AOW will start paying out from the day you reach your AOW retirement age. If you were born after 31 December 1958, your AOW retirement age is not yet known, but it will be at least 67. Visit the website of the Social Insurance Bank (Sociale Verkeringsbank) for an estimate of your AOW retirement age. The amount of pension you've built up for your AOW can be found on the government's website “Mijn Pensioenoverzicht” (use your DigiD to log in).

Social partners determine your retirement age
ING CDC Pensioenfonds has a standard retirement age of 67, which was agreed by the social partners (the employer and the trade unions). You cannot defer this age, but you can bring it forward (early retirement). If you are considering early retirement, please be aware that your monthly pension benefits will be lower because:

• you’ll be building up less pension
• your pension accrual will need to be paid out over a longer period of time
• you will not yet be receiving AOW.

Your partner’s pension will be lower as well. If you're considering early retirement, please get in touch with us well ahead of time. Your pension is paid out from the first day of a month.