The Rutte II Cabinet cannot be accused of a lack of decisiveness; substantial changes were implemented in the fiscal sphere as of January 1, 2015. Because people are aging and have to work longer, the maximum premium accumulation has also been reduced. For people with a average salary scheme, they are allowed to save up to 1.875% of the gross salary tax-free. For final salary schemes, this is 1.657%. A similar adjustment applies to defined contribution schemes. This should result in a pension of 75% of the average salary being realized in 40 years.
Additionally, the fiscal space to build up a tax-free pension, the “pensionable” salary, is limited to EUR 100,000, the so-called “capping of pensions.” Above this amount, only net pension or net annuity can be accumulated. The premium for this product is paid from the net salary. Changes to the pension agreement and new arrangements with the pension provider will be necessary.
