Dutch state pension age to rise in stages from next year

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Dutch state pension age to rise in stages from next year

Next year some 200,000 to 225,000 people will have to wait a month past their 65th birthday before they can start collecting their state pension, the Telegraaf reports on Wednesday afternoon.

The Dutch pension age is to increase in stages to 66 by 2019 and then go up to 67 in 2023, now new legislation has been approved by both houses of parliament.

The senate voted on Tuesday night in favour of the change, despite fears the introduction of the new law has been too hasty and some people will miss out financially.

The increase is part of a package of austerity measures agreed by a five-party coalition in April after the government collapsed. The Labour party, Socialists and anti-immigration PVV voted against the rise.

Historic decision

For the next three years, the state pension age will rise by one month. After that it will go up in two month stages and finally in 2019 to 66.

Social affairs minister Henk Kamp has agreed to look at ways to soften the blow for people on early retirement schemes who will have to bridge the gap between the end of their pre-pension and start of state benefits. Some 60,000 to 80,000 early retirees will be hit by the changes, the Telegraaf says.

He described the approval of the legislation as 'an historic decision'. The state pension (AOW) age has been 65 since 1957.

Pension funds have already warned the changes are being introduced too quickly, giving them little time to prepare.


© DutchNews.nl

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