As life expectancy goes up, so does the number of years (or months apparently) you have to work before retiring, according to the Dutch system.
Since folks here in the lowlands are getting healthier and living longer, the retirement age has also gone up by three months.
Now, people celebrating their 67-years-and-three-months birthday in the Netherlands have the right to receive AOW money, writes RTL Nieuws.
So… how does this work exactly?
Before 2019, the Dutch retirement age increased parallel to the increase in life expectancy. That turned out to be a bit pricey, however, so the Dutch government constructed a new formula for pension payments.
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That is, every time the Dutch life expectancy has increased by 4,5 months, the Dutch retirement age goes up by three months. Once again, the Dutch bureaucracy amazes us with its complexity.
Can I still retire at 67?
The new system only takes effect in 2028, five years from now (yeah, we know, how crazy is it that 2028 is only five years away).
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In other words, if you’re close to celebrating your 67th birthday, don’t worry. You’ll still be entitled to AOW funds at that age, and don’t have to wait an excruciatingly long three months.
What do you think of the Dutch retirement calculations? Tell us in the comments below!