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About to retire

Temporary higher pension

A higher pension for the first few years? And then lower? Check out the possibilities here.

Do you want a higher income in the first years of your retirement?

You may choose to temporarily receive a higher income and, after a period, a lower income. This can be quite convenient if you want to travel, or help your children through studying, or when you still have high mortgage burdens. Discover here if a temporary higher pension income is something for you.

Temporary higher pension

Gerard has opted for a temporary higher pension.
"I stopped working earlier, so I do not receive a state pension yet. A temporary higher pension is very welcome!"
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Thea did not opt for a temporary higher pension.
"A temporary higher pension was not necessary for me. My partner has a good pension. So together we have more than enough to get by."
Read more

This is what you need to know

When you retire, one of the options you have is a 'Temporary higher pension'. This allows you to receive a somewhat higher pension income than normal for up to 10 years. After that, the income is lower than normal. We also refer to this choice as 'high/low pension'.

Temporary higher pension: how it works

You choose how many years you want to receive a higher pension income. This can be up to 10 years, effective from the start of the pension. After that time, the pension income decreases. The amount of pension you receive depends on the number of years you receive the higher amount. At Zwitserleven, the ratio between the high and low pension income is 100:75. This means that after the high period, your pension income goes down by 25%. At the start of your pension, both amounts are already fixed, so the high pension income and the lower pension income. Conversely, starting with a lower and then receiving a higher pension is not possible at Zwitserleven.

Temporary higher pension and partner’s pension

Have you opted for a temporary higher pension and do you pass away during the period of the higher pension income? If you have arranged a partner's pension, your partner will also receive a higher partner's pension for the rest of this period. Thereafter, the partner's pension will decrease, and your partner will receive the agreed percentage of the partner's pension for life from the lower pension income.

When to opt for a temporary higher pension?

There are pros and cons to a temporary higher pension. Whether it suits you also depends on what you find important and on your financial situation during your retirement. First check on mijnpensioenoverzicht.nl how much pension income you can expect and how much your potential partner will receive. This is the starting point for the choices you make for your pension.

The pros and cons of a temporary higher pension
Pros	Cons
At the start of your retirement, more financial space and possibilities. The older you get, the less money you often need for excursions and travel.	You may pay more tax. As you receive more income during the period of higher pension income, you may end up in a higher tax bracket.
What you have once received cannot be taken away from you. You do not know how long you have to live.	The likelihood is high that you will get used to the higher pension income. Often, we also spend more when we have more money to spend. And to be fair: for many people, it is difficult to have to take a step back after a while.
	You may have higher healthcare costs at an older age while receiving a lower pension income.
	You cannot combine a temporary higher pension with the choice for Lump Sum.

Is a temporary higher pension right for me?
May suit you if...	May not suit you if...
if you retire before you reach the statutory retirement age, you may pay more tax until you reach the state pension age. And you will not yet receive a state pension. As a result, the pension income you receive during that initial period is lower. Opting for a Temporary higher pension can compensate for this.	your monthly pension income is becoming insufficient to cover ongoing expenses after the period of higher pension income.
in the early years of your retirement, you may have higher expenses, for example, for a mortgage, a loan that still needs to be paid off, or educational costs of children.	if you already have additional income, for example from an annuity insurance.
if for medical reasons you expect that you will not live to a very old age, it might be better to start receiving as much pension as possible now.	if you need a loan later on. With a lower retirement income, you can borrow less.
if you plan to make additional expenditures in the early years of your retirement, such as traveling, starting a hobby, or starting a new study.	if you expect to live a long time, it is often wiser to continue receiving the highest possible pension income at an older age. This is also to be able to pay for higher, additional healthcare costs, for example. Or to make adjustments to your home, so that you can continue to live there longer.

Need advice on this choice?

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Sara, 68 years old

‘I want to fully enjoy life in the first years of my retirement. Travel, and gain new experiences. Later on, when I'm approaching 80, I can take it easy and I'm fine with having to adjust my expenses.’

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Temporary higher pension

Do you want a higher income in the first years of your retirement?

Temporary higher pension

Gerard has opted for a temporary higher pension.

Thea did not opt for a temporary higher pension.

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This is what you need to know

The details

Temporary higher pension: how it works

Temporary higher pension and partner’s pension

Read more about partner’s pension

When to opt for a temporary higher pension?

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