Seven tips for arranging your pension
Seven reading tips
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1. Get a grasp of your retirement funds
Have you worked for multiple employers? Chances are you've built up more than one pension with various providers. You can view all your pensions together at mijnpensioenoverzicht.nl. This gives you an estimate of what to expect.
2. Discuss your goals with your employer
Is it possible to work less or even retire early? Could you work longer, and under what conditions? Talk it over with your employer to understand your mutual expectations.
3. Consider consolidating your pension pots
Some pensions can only be paid out by the provider where they were accrued. However, you might be able to choose your own provider, known as the right to shop around. If so, compare different providers. Learn more.
4. If you have a partner, talk about your pension!
Pension planning should include your partner's coverage if applicable. Discuss each other's pension plans and what happens if one of you passes away. Do you need a partner's pension, and how much? Remember, arranging a partner's pension means receiving less yourself. Learn more.
5. Line up your (expected) expenses
Do you still have significant expenses, like children or a mortgage? Or do you anticipate higher medical costs? You might have the option to start with a higher pension that decreases later, or vice versa. Learn more.
6. Do you prefer certainty or the chance for a higher pension?
If your pension is investment-based, you'll end up with a pension capital to buy your pension income. You can opt for a fixed pension income for more certainty or a variable pension income for the chance of higher returns, but with more risk. Think carefully about what suits you best. Learn more.
7. Take your time
Retiring isn't a one-day event. It's a significant step for the rest of your life. Once you've made your choices and start receiving your pension income, you can't change them. That's the financial side. But it's also a big emotional step. You're moving into a new phase of life, which we prefer to call a new beginning. So, talk about it with others. What do they find important? How are they preparing? This way, you'll gradually move towards your last working day and the days that follow.