Pension as a freelancer: your options

As a freelancer you do not build up a pension anywhere automatically. Not a disaster, but something to arrange yourself, and the earlier you start, the less it costs per month. These are your options, from tax-advantaged to fully flexible.

The base: AOW state pension

Everyone who lives or works in the Netherlands accrues AOW, freelancers included. But the AOW is a basic provision around the social minimum; to keep your standard of living you need to add your own savings. Work out what you will be short per month from your AOW age: that is your target.

Option 1: annuity with jaarruimte (tax-advantaged)

The best-known route is contributing to an annuity account at a bank or broker. Contributions within your jaarruimte are deducted from your income: no tax now, only when the annuity pays out after retirement, usually at a lower rate. Since 2023 the jaarruimte has been widened considerably to 30% of your contribution base, and unused room from the past ten years can be caught up through the reserveringsruimte. The money is locked until retirement though; early withdrawal triggers a penalty interest.

Option 2: invest or save yourself (flexible)

Investing or saving outside an annuity is fully flexible: you can always access your money. In exchange you get no tax deduction and the assets count in box 3. Many freelancers combine: use the jaarruimte for the tax advantage, and build a free buffer besides.

Options that are gone (or rarely apply)

• The FOR (fiscal old-age reserve) was abolished in 2023; you can no longer add to it. An old FOR balance must eventually be settled or converted into an annuity.
• Voluntarily continuing your former employer's pension fund is sometimes possible in the first years after leaving, but often pricey.
• A mandatory professional pension fund applies to some professions (such as GPs and physiotherapists); check whether yours is covered.

How much should you contribute?

A common starting point is ten percent of your revenue. More precisely: set your desired monthly amount after retirement, subtract the AOW and work backwards to the monthly contribution. Include the pension line in your hourly rate too; the hourly rate calculator has a dedicated field for it.

Arranging a pension starts with knowing what you earn. Finq's reports show your revenue, costs and profit per year, so you know what contribution is realistic.