Premium Payment and AOW Accrual under Voluntary Insurance for Amsterdammers

For Amsterdammers who emigrate abroad, the voluntary AOW insurance operates with premium payment based on your income, just like the wage tax you know from the bustling streets of Amsterdam. The SVB calculates your premium annually and sends an assessment notice. In 2024, this amounts to approximately 20% of your taxable income, with a maximum limit. Do not forget to pay, otherwise the SVB will suspend your accrued rights – but upon return to Amsterdam, you can catch up later with a penalty. Accrual proceeds via 'insurance years': each paid year counts for a full AOW entitlement, up to a maximum of 50 years. After the AOW age and emigration, accrual stops, but your rights remain intact. Tip: Report your foreign income honestly via the 'AOW Premium Voluntary Insurance' form and keep your address up to date in the Personal Records Database, especially if you return to neighbourhoods like the Jordaan or Oost. In the event of divorce or death of your partner, special adjustments apply, and upon establishment in Amsterdam, the premium stops automatically. This way, you avoid hassle with the Tax Authorities and SVB, while enjoying your pension along the canals.