Pension in the Netherlands
Building up a pension in the Netherlands: how does it actually work? Your income when you retire consists of:
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A benefit from the government (AOW);
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Your pension from Euroclear Nederland Pension Fund, and any pension accrued with another pension fund;
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Personal additions, such as your savings or a supplementary pension insurance.
1. Government benefit (AOW)
The AOW forms the first pillar of the pension system. It is your basic income during your retirement. Everyone who lives or works in the Netherlands automatically builds up AOW. The amount of the AOW is adjusted annually to the development of the minimum wage. The amount of the AOW for married couples is approximately 1,025 euros net per month (in 2025). The AOW for a single person is approximately 1,215 euros net per month (in 2025). You can read more about this on the website of the SVB.
2. Your pension from Euroclear Pension Fund
The Netherlands
The 2nd pillar is the pension build-up via the employer. In your case Euroclear Nederland/Euroclear SA Amsterdam. This allows you to build up a supplementary benefit on top of the AOW benefit. In your pension scheme, you are not only building up a pension for yourself. A pension has also been arranged for your partner in the event of your death. You do not pay any premium for your pension build-up yourself. The premium is paid in full by Euroclear. The pension scheme is implemented by Euroclear Pension Fund OFP. Euroclear Pension Fund OFP is not established in the Netherlands but in Belgium.
3. Personal additions
Personal supplements form the 3rd pillar. For example, an annuity, a lump sum policy or a life insurance. With this you can save for extra pension. For example, to fill a pension gap or to retire earlier.