Three pillars of pension accrual
You accrue pension in three ways:
A. AOW: this is the pension you receive from the government. Further information on the AOW is available at www.svb.nl.
B. Pension in the ARP/ASP plan of the Mars Pension Fund. You accrue this pension through Mars. This is the pension we discuss in this Pension 1-2-3.
C. Pension that you arrange personally, such as an annuity or bank savings.
A. AOW
AOW pension is the pension you receive from the government. Everyone who lives or works in the Netherlands is automatically insured for this pension. You will receive a full AOW pension if you have continuously been insured in the 50 years before reaching your personal AOW age. For every year you miss, the state pension is cut by 2%.
Please note: If you have not always lived or worked in the Netherlands, your AOW pension may be lower.
The AOW age is not the same for everyone. The amounts are adjusted annually. Information on the AOW is available at www.svb.nl.
B. Pension accrued through Mars
The amount of capital in your ARP and ASP account and an indication of the related pension is shown in MyMarsPension and in your Uniform Pension Statement (UPO). Your UPO is sent to you each year, and is also available in MyMarsPension.
You can see the amount of pension you can expect from your ARP/ASP plan and any former pension funds or insurers at www.mijnpensioenoverzicht.nl.
C. Pension that you arrange personally
You can save yourself for an additional pension. There are various ways to do this. This can be with bank savings or by arranging an insurance, such as an annuity. Whether you believe this to be necessary depends on your financial and personal situation. A financial adviser can assist you to make this assessment.