• Service: Tax, Global Mobility Services, International Tax
  • Type: Regulatory update
  • Date: 12/23/2013

Netherlands - Pension plan changes for 2015 

December 23: An agreement reached among the parliamentary parties and the government would provide for changes to the tax rules for pension plans in the Netherlands.

If enacted, these amendments would require further changes to pension plans as of 1 January 2015—i.e., changes that are in addition to the tax adjustments that must be implemented by 1 January 2014 (e.g., increased standard pension retirement age and reduced pension accruals).

Among the changes to be effective beginning 2015 are measures that would:

  • Adjust the maximum pension accrual rates
  • Cap the maximum amount of “pensionable income” at €100,000 (less the state pension offset)
  • Allow employees in higher income brackets to build up additional voluntary retirement savings under a tax-friendly regime
  • Reduce tax relief for life insurance and annuities
  • Establish a voluntary collective pension plan for self-employed persons with no staff

Read a December 2013 report prepared by the KPMG member firm in the Netherlands: Agreement on pension changes in 2015

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