StiPP Pension

If you live in the Netherlands, you are entitled to a basic income, the so-called State Pension (AOW) or Old-Age pension. The benefit will commence on the day that you reach retirement age. The age of pension currently being 66, but will be increased to 67 from the year 2024 and onwards.

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StiPP pension

In addition to the basic pension, it is possible to build up a supplementary pension in your sector. This works as follows: If you work in the flexible employment sector, you build up pension capital at STiPP. Money is deposited into your pension investment account every month. That money is then invested. Ultimately, you have built up pension capital that consists of the money deposited and the return on the investment.

When you eventually retire, a lifelong pension benefit can be obtained from the accrued capital. The amount depends on the money deposited, the return on your investment and the costs of buying pension benefits.

StiPP pension plan

The StiPP consists of 2 pension plans, the basic plan and the Plus plan.

The basic plan is intended for temporary workers aged 21 and older who have been working for the same employer for at least 26 weeks. The duration of this plan is 52 weeks in which only the employee contributes contributions, based on your gross salary and the current contributions determined by STiPP. This calculation formula will change every year, make sure you check the current figures.

After 78 weeks of employment, you automatically participate in the Plus plan. During this period not only the employee but also the employer will contribute.


If you no longer participate in the StiPP pension plan

The pension capital you have built up always remains yours, even if you no longer participate in the pension. If this accrued pension is less than € 497.27 per year, in some cases the money will be paid as a lump sum after two years. This is called commutation. If you live in the Netherlands and are eligible for commutation of your pension, you will automatically receive notification from StiPP. If you live abroad, you must request this yourself.

Cashing in on your pension

Cashing out your pension is possible under the following 2 conditions:

  • Your pension may not exceed € 497.27 per year (2020)
  • You left the company more than two years ago, no later than January 1, 2018

If you live abroad, you must request this yourself. If you live in the Netherlands, you will automatically receive notice from StiPP.

If you stopped building up pension with StiPP after 1 January 2018, your small pension capital can no longer be redeemed. A small pension is less than € 497.27 per year (2020). As of 2019, there is an automatic transfer of value, which means that StiPP is legally obliged to pass on your accrued pension to your next pension provider whenever you change jobs.

Commutation is only possible in the following cases:

  • If StiPP has tried to transfer the accrued pension value to the next pension provider at least five times in the course of five years.
  • When you retire and there is no other pension provider to transfer the accrued pension value.

Receiving a pension from StiPP if you live abroad

If you live abroad, always make sure that StiPP has your current correspondence address so that you can be kept informed.

To assure yourself of payment of your pension, you must complete a “Bewijs van in leven zijn” (Proof of living) form every year. You can do this at a Dutch embassy, ​​a local notary, the Dutch consulate, or your local civil registry. If you do not do this, the payment of your old-age pension will cease.

TOSS and your pension

We process your StiPP pension plan in our salary administration and inform and deposit the money to the authorities. Not only for STiPP, but also for the state.

It may not be the most important thing in your life right now, but make sure your retirement plan suits you best. TOSS would be happy to assist you in this area!

About TOSS

TOSS has years of experience in assisting expats and highly skilled migrants, as well as international business with transitioning and working in The Netherlands.

We have gathered knowledge in various business areas that you as an expat can take full advantage of. It gives you the opportunity to focus on your new job in the Netherlands and leave the rest to TOSS.

  TOSS is always ready to assist. We listen and take the time;
  We have over 20 years of experience;
  We are NEN certified and registered with the IND;
  TOSS aims for the maximum achievable for you as our customer.

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