Uniform pension statement

When I use my investment capital to purchase a pension when I retire, how likely is it that I will get the pension shown on my uniform pension statement?

The figures stated are a realistic estimate. However, the value of your pension is not fixed, because it depends on multiple factors, such as your future pension contributions, return on investments, the purchase price of the pension you buy when you retire, and the choices you make for your pension.

Read more about this under How certain are these figures? on your uniform pension statement.

Why do the expected pension payments shown on my uniform pension statement differ from those shown on mijn.nn Financial Future and/or Mijnpensioenoverzicht.nl?

The figures from your uniform pension statement are difficult to compare with the figures shown on the above pension platforms. This is because the uniform pension statement shows figures that are calculated on a fixed date every year, i.e. 31 December. The figures on the pension platforms, on the other hand, are updated regularly. Read more about this here (Dutch only). As a result, the calculations of variables such as the expected returns may not be the same for the figures shown in the uniform pension statement and those on mijn.nn Financial Future. This is why the figures may be slightly different.

This year’s expected pension as shown on the uniform pension statement is lower than last year’s. How come?

The pension projection, i.e. the pension you can expect, may be lower due to various reasons:

• The (market) rate of interest has changed.
• The variables we factor into the calculation of the pension projection include the returns and interest rates imposed by the Dutch central bank (De Nederlandsche Bank, or DNB). These return figures, which are forecasts, can be different from year to year and they affect the expected pension.

Will I get a higher pension if I transfer my pension capital to another pension provider before my retirement date?

You can buy your pension at any one of a number of parties in a process that we refer to as ‘pension shopping’. It is impossible to say beforehand, however, where you will get the highest pension. To get the best deal, ask various pension providers for a quote when you retire. Do bear in mind that every insurer uses the same formula and variables to calculate the expected pension specified in the uniform pension statement, meaning that your uniform pension statement would not have been any different if you had your pension with another insurer.

I’m about to retire. I can see on my uniform pension statement that my pension will be lower than what I expected all these years. Is there anything I can do to increase my pension?

See the previous question. You can always get multiple quotes. If you are still several years off retirement and you are still paying into your pension pot, you may be able to pay in a little extra to top up your pension. Check your Pensioen 1-2-3 to see if this option is available to you. You will also find information on additional choices you can make on your personal pension platform mijn.nn Financial Future. On that same platform, you can also check the value of your investments and find a lot more information about your pension.

Can I get a copy of my uniform pension statement?

Yes, you can check and download your most recent uniform pension statement (and those for previous years) on mijn.nn. Simply log in using your DigiD. If you don’t have access to mijn.nn, call our Pensions Customer Service to ask for a copy of your uniform pension statement.

The details on my uniform pension statement are incorrect or are no longer correct. How do I submit changes?

You can submit certain changes yourself on mijn.nn, while others require you to fill in a web form or submit them through your employer. See below how to submit changes:

Change of address
Simply change your address details yourself on mijn.nn, also if you ever move house in the future. If you don’t have a mijn.nn account yet, create one here.

Change to your employment contract through your employer
Your employer will let us know when there are any changes relating to your employment contract, such as your salary, how many hours you work, disability, unpaid leave, etc. If any of these details are incorrect or are no longer correct, check with your employer.

Registering your partner
Getting married, moving in together or entering into a registered partnership? Make sure you submit your partner’s details to your employer. Your employer will then pass these details on to us.

If you are no longer employed, you don’t need to submit your partner’s details to us. In the event of death, we will get the partner’s details ourselves and inform the surviving relatives about a possible death benefit. If you are unsure as to whether your partner will be entitled to a partner’s pension after your death, please contact us through nn.nl/mijnpensioenvraag.

Splitting up
If you and your partner have split up, please let your employer know. If you are no longer employed or you have multiple products with
Nationale-Nederlanden, please use the Report divorce web form (as well). If you would like more information about how splitting up will affect your pension, take a look at our Uit elkaar en je pensioen (Splitting up and your pension) page. Brochures are available in English. The PDF's are located at the bottom.

Death notification
We do not need to be notified of a death if the deceased was married or in a registered partnership, as we will automatically be notified by the local authority. We do need to be notified of a death if:

• the deceased lived outside the Netherlands; or
• the deceased was neither married nor in a registered partnership.

Please notify us using the death notification form (Dutch only).

I don’t have a pension with Nationale-Nederlanden. Why am I receiving a uniform pension statement?

Even if you have not built up a pension with Nationale-Nederlanden yourself, you may receive a uniform pension statement from us. You will, for example, receive a uniform pension statement from us if you:

• Are receiving a partner’s pension under your partner’s pension plan or an orphan’s pension under one of your parents’ pension plans;
• Are entitled to part of your former partner’s pension (special partner’s pension and/or equalised retirement pension)

I’ve received a uniform pension statement. Will I also get an annual statement?

You will only receive an annual statement if you are drawing a pension or other benefit from Nationale-Nederlanden. Your annual statement will be available on mijn.nn from around the second week of February. If you have opted to have your annual statement sent to you by post (as well), you will receive the paper version of your annual statement at the end of February. For more information about the annual statement, see nn.nl/jaaroverzicht (Dutch only).

Why does my partner not feature on my uniform pension statement?

In most cases, your pension plan includes a partner’s pension for your partner, even if their name is not specifically stated on the uniform pension statement. After your death, we will check whether you had a partner who is entitled to the partner’s pension. The pension plan regulations specify when exactly a partner is entitled to the partner’s pension. Entitlement to a partner’s pension may be subject to various conditions, such as you and your partner having signed a cohabitation agreement. Read the article for more information about the new rules for the surviving dependants’ pension (Dutch only).

I don’t have a partner and/or children. Why does my pension plan still include a partner’s pension and an orphan’s pension?

Your employer decides what pensions are included in the pension plan. This means that your pension plan may include a surviving dependants’ pension in the form of a partner’s pension and an orphan’s pension as standard, even if you don’t have a partner and/or children (at this point).

Why is the pension projection on my uniform pension statement lower than last year?

If yours is a capital sum agreement or a defined contribution agreement, the pension shown is a pension projection. We use various variables to calculate the pension projection, i.e. the pension you can expect to get, including the returns and interest rates imposed by the Dutch central bank. Since these (predicted) returns and the interest rates are subject to change, your pension may be higher one year and lower the next.

Your pension may also be lower if:

• Your personal situation changes. This may be due to a change in your salary, the hours you work or you going on (unpaid) leave.
• You make certain choices for your pension. You may, for example, choose to stop paying additional pension contributions or change the way you invest for your pension.

Why do I have different retirement ages?

Since we are living to an increasingly old age, the Dutch government decided in 2013 to gradually raise the state pension age to 67. Your workplace pension will also go into payment later. Most pension plans currently have a retirement age of 68. This used to be 65 or 67. If you have built up pensions under multiple pension plans, these pensions may go into payment at different ages (such as 65, 67 or 68).

Read the article for more information about the state pension age and retirement age.

How certain is the pension shown on my uniform pension statement?

If you have a defined benefit agreement, your pension is fixed. If yours is a capital sum agreement or a defined contribution agreement, the figures shown are pension projections. The value of your pension is not fixed in that case. The pension you will ultimately receive also depends on factors such as the:

• pension contributions yet to be paid in;
• return on your investments;
• purchase price on your retirement date;
• choices you make for your pension.

Read more about this under How certain are these figures? on your pension statement.

What do the various figures indicated by the arrows mean?

How much your pension will ultimately be depends on how the economy develops. We don’t know how the economy will perform in the future. Interest rates can go up or down. Investments can generate high returns or quite the opposite. All of this affects the pension you build up. The cost of living may also go up or down. We have estimated your pension based on many different calculations.

The figure indicated by the top arrow in the centre is the expected end result. If the economy slumps or the cost of living soars, your pension may end up being the figure to the left. And if the economy performs well, your pension may end up being the figure to the right. In practice, your pension will be somewhere between the left-hand figure and the right-hand figure. There is a small chance that your pension will end up being lower or higher than the figures indicated by the arrows.

Why do the pension figures stated on my uniform pension statement differ from those shown on mijn.nn Financial Future and/or Mijnpensioenoverzicht.nl?

Although it is sent in the current year, your uniform pension statement shows figures for the previous calendar year. The figures shown on your pension platform and on Mijnpensioenoverzicht.nl are more current and regularly updated. As a result, the expected pension figures may (temporarily) be different.

How do you calculate the expected pension (pension projection) that is shown on my uniform pension statement?

If you have a capital sum agreement, (flexible) defined contribution agreement, or a defined benefit agreement, we factor the returns and interest rates imposed by the Dutch central bank into the calculation of your pension projection. Additionally, we base our projection calculations on the following assumptions:

• You buy a retirement pension for yourself and a partner’s pension for your partner on your retirement date. We assume a partner’s pension amounting to 70% of your expected pension. On your retirement date, you can also opt to buy a smaller partner’s pension or no partner’s pension at all.
• We calculate your expected pension based on your chosen investment strategy. At present, you are gradually reducing the investment risk to a fixed benefit or variable benefit pension. Which one it will be is up to you to decide on the date you retire.
• We calculate pensions based on your date of birth and gender. And if your partner is registered with us, we also factor their date of birth and gender into our calculation. If your partner has not been registered with us, we will assume that your partner is two years older than you. On the retirement date, we will use your partner’s actual details to determine the pension.

Will my pension grow with inflation?

Inflation reflects the increase in the cost of living. If the cost of living is up 2% on last year, the inflation rate is 2%. Inflation means that an unchanged pension will not go as far in the future as it does today. The spending power your pension provides will then decrease.

To counter the effects of inflation, some employers try to increase pensions every year, in step with rising wages, for example. Increasing pensions is sometimes referred to as ‘pension indexation’.

I received a uniform pension statement for a small pension. Can I commute this pension?

With us, you can only commute your small pension when you retire. We will write to you with more information about this roughly six months before you retire. A small pension is a pension that pays out under €613.52 (pre-tax) on an annual basis (this is the commutation limit for 2025). If your pension plan with us is a Comfort Pensioen, you will not be able to commute your small pension. If you have a small pension and you are going to build up a pension under a new workplace pension plan with a new employer, we will automatically transfer the pension from your policy to your new pension provider.

How does commuting a small pension work?
If you are about to retire and are eligible for pension commutation, we will write to you six months before your retirement date to notify you of the option of commuting your pension. In some cases, you may also have other options. In our letter, we will explain these options and how to let us know what you want to do.

What is the A factor amount?

The A factor amount reflects how much your pension has grown in any given year. This called ‘pension accrual’. Please note: if you are (also) building up a pension under the new pension regulations of the Dutch Future of Pensions Act (Wet toekomst pensioenen), the A factor amount has been replaced by the maximum tax relief on annuities and savings used as a pension top-up.

What is the maximum tax relief on annuities and savings used as a pension top-up?

Every year, you can save up to a certain amount or pay up to a certain amount into an annuity to top up your pension when you retire. You can deduct these additional pension savings from your taxable income on your tax return. Please note however, that this tax relief is only available if you have a pension shortfall. If you don’t have a shortfall, any additional money put aside for your pension will not be tax deductible.

What is the difference between the A factor amount and the maximum tax relief on annuities and savings used as a pension top-up?

The A factor amount is calculated for pension plans that come under the Pensions Act (Pensioenwet, PW). The maximum tax relief on annuities and savings used as a pension top-up is calculated for net pension plans and for pensions governed by the Future of Pensions Act (Wet toekomst pensioenen, Wtp). Both these concepts represent your annual pension accrual. There is a difference in how the A factor amount and the maximum tax relief on annuities and savings used as a pension top-up are determined.

When do I need the A factor amount or figure for the maximum tax relief on annuities and savings used as a pension top-up?

You only need your A factor amount or the figure for the maximum tax relief on annuities and savings used as a pension top-up to be able to calculate by how much you can top up your pension without incurring tax liabilities. You can top up your pension using annuities and/or bank savings. Click here to calculate your top-up.

If you have received a statement of both the A factor amount and the maximum tax relief on annuities and savings used as a pension top-up, you will need both statements to calculate by how much you can top up your pension without incurring tax liabilities.

Where do I find the A factor amount or the figure for the maximum tax relief on annuities and savings used as a pension top-up?

The A factor amount or the figure for the maximum tax relief on annuities and savings used as a pension top-up are specified on your uniform pension statement. You can find your uniform pension statement on mijn.nn.

I’m filing my tax return for 2024. Which A factor amount (year) do I need?

Your uniform pension statement for 2024 specifies the A factor amount or the maximum tax relief on annuities and savings used as a pension top-up for 2023. Use either figure on your tax return for the 2024 tax year, which you file in 2025. There will only be a figure shown for the A factor amount or the maximum tax relief on annuities and savings used as a pension top-up if you have built up a pension.

Are you a director and major shareholder?

If you are the director and major shareholder of the company and your pension insurance is not governed by the Pensions Act (Pensioenwet) or the Future of Pensions Act (Wet toekomst pensioenen), you will still receive a uniform pension statement specifying the A factor amount or the maximum tax relief on annuities and savings used as a pension top-up.

Will my pension be higher if I transfer my pension capital to another pension provider?

It is entirely up to you to choose the provider you buy your pension from. We refer to this as ‘pension shopping’. It is impossible to say at this point where you will be able to get the highest pension when you retire. Since the pensions on offer may differ, you should request quotes from multiple providers when you are set to retire. You can then choose, either yourself or together with a pension adviser, the provider that best aligns with your specific needs and preferences.

You will receive your uniform pension statement before 1 October every year. It will provide the following information:

• Your expected pension if you had ended your employment on 31 December of the previous year.
• Your expected pension if you continue to work until your retirement date. 
• The pension your partner and/or children will receive after your death.
• How certain the figures are. This section explains whether, and if so how, your pension will be increased. And it shows what your pension may be in a best-case or worst-case scenario.

Please note: if you joined your current employer this year, you will receive your first uniform pension statement before 1 October next year.

You will receive a uniform pension statement for former members every year. It will provide the following information:

• The pension you will receive when it goes into payment.
• The pension your partner and/or children will receive after your death.
• How certain the figures are. This section explains whether, and if so how, your pension will be increased.

What is a ‘former member’?

You are a former member if you are no longer building up a pension under the pension plan.
This will be the case if:

• Your employment has ended. You will then have ceased to build up a pension from the date you left the employer.
• Your employer has terminated the pension plan with Nationale-Nederlanden.

You will receive a uniform pension statement for pension beneficiaries. It will provide the following information:

• The pension you are currently drawing. This can be a retirement pension or an occupational disability pension, but also a partner’s or orphan’s pension in payment.
• The pension your partner and/or children will receive after your death. This is the partner’s and/or orphan’s pension that has not yet gone into payment.
• How certain the figures are. This section explains whether, and if so how, your pension will be increased. And it shows what your pension may be in a best-case or worst-case scenario. For more information about this, see nn.nl/pensioen-vooruitblik

You can also download your uniform pension statement on mijn.nn, your personal online account with Nationale-Nederlanden.

If you have one of the following income protection polices with Nationale-Nederlanden, you will receive a uniform pension statement before 1 October every year. Your uniform pension statement will specify what is covered in the event that you become fully or partially unable to work.

• WIA Excedent
• WGA Hiaat Aanvullingszekerheid

WIA Excedent = Income top-up insurance when receiving benefits under the Work and Income based on Capacity for Work Act (WIA).

WGA Hiaat Aanvullingszekerheid = Income top-up insurance to cover a shortfall in benefits paid under the Return to Work for the Partially Occupationally Disabled Act (WGA).

Please note: if you joined your current employer this year, you will receive your first uniform pension statement before 1 October next year.

You will receive a uniform pension statement for former partners once every five years. It will provide the following information:

• The partner’s pension you will receive after your former partner dies. Dit wordt ook wel ‘bijzonder partnerpensioen’ genoemd.
• How certain the figures are. This section explains whether, and if so how, your pension will be increased. And it shows what your pension may be in a best-case or worst-case scenario. For more information about this, see nn.nl/pensioen-vooruitblik (Dutch only).