Dutch state pension age increasing to 67 years and 3 months in 2028
The state pension age in the Netherlands will increase by three months in 2028 to 67 years and 3 months, Minister Carola Schouten for Poverty Policy, Participation, and Pensions said to parliament.
The increase in the state pension age, or AOW age, automatically follows Statistics Netherlands’ latest life expectancy prognosis. Earlier on Wednesday, the stats office reported that life expectancy is increasing again after taking a dip during the two coronavirus years. In 2028, the average 65-year-old will have a life expectancy of 21.05 years, 1.0 years higher than in 2019 and 1.6 higher than in 2020 and 2021.
The state pension age will remain frozen at 67 years from 2024 to 2027. Changes to this retirement age are always announced five years in advance.
The rise in the state pension age is meant to keep pensions affordable. The Netherlands’ aging population means that retired people live longer while the workforce of young people contributing to the pension system shrinks.