The House of Representatives will discuss the bill on the new 'Lump sum' option

28 September 2023

After the fall of the cabinet, the House of Representatives always compiles a list of topics that parliament wants to postpone until there is a new cabinet and topics that it still wants to discuss. The proposals regarding pensions will continue as usual. This includes the bill that regulates the choice to have 10% of your pension paid out on your retirement date.

What is the new 'Lump sum' option?

If the law is passed, you will be able to have part of your accrued pension paid out in one go when you retire. This concerns a maximum amount of 10% of your accrued pension. You will receive this amount on your retirement date. 

Taking a 'Lump sum' does mean that you will receive a lower pension benefit every month. It may also have consequences for your tax return or allowances that you may receive, such as housing allowance.

When will there be clarity about this new choice?

It is not yet clear when the House of Representatives will discuss this new option. The law that makes this new pension choice possible has already been postponed several times. The effective date is now 1 July 2024, but could be postponed further. This date will only be certain once the bill has been discussed by the House of Representatives and the Senate.