As a self-employed person you are your own employer. That means freedom and flexibility, but also responsibility. One of the most important financial topics that is often postponed is retirement. While as a self-employed person it is crucial to arrange this properly yourself. In this article you can read how pension for self-employed people works, what options you have to build up a supplementary pension and why starting early makes the difference.
The basis: AOW for every Dutch person
Everyone who lives or works in the Netherlands automatically accrues entitlement to AOW: the General Old Age Pensions Act. This is a basic pension that you receive from the state pension age. However, for many people the state pension alone is not sufficient to maintain the same lifestyle after retirement. Salaried employees therefore often build up an employee pension. As a self-employed person, this is often not the case and you therefore only accrue AOW.
That is why it is smart to build up a supplementary pension as a self-employed person.
Why building a pension as a self-employed person is important
Because in many cases you, as a self-employed person, do not have a pension from an employer, the entire responsibility may lie with you. Without action, you run the risk of a pension gap: a shortfall between your future income and your desired lifestyle. The good news is that you are in control. You decide how you save or invest and how much you put aside each month. Would you like more insight into this? Check this handy tool on the Money Wise website.
Tip: have you previously been employed? Then take a look at mijnpensioenoverzicht.nl. You can easily log in with your DigiD. There you will gain insight into your pension accrual with your former employer(s). You also see how much AOW you will receive later.
Ways to build up a pension as a self-employed person
Annuity insurance or account
An annuity is a special pension provision that allows you to put money aside for later. The advantage: your contribution is often tax deductible, so you now pay less tax. The disadvantage is that your money is tied up in a blocked account. So you cannot access your money in the meantime. On the retirement date you will receive a periodic benefit. This can be done through an insurer or through bank savings.
Bank savings
Bank savings is a popular form of annuity. You deposit money into a special blocked bank account. The accrued amount is safely in your name and you do not pay wealth tax on it in Box 3. From your retirement date, the amount is paid out in installments and you only pay tax on it.
Tax benefit
A major advantage of annuities and bank savings is that you can make use of tax deductions. This has to do with your ‘annual space’: an annually calculated amount that you can deduct, depending on your income and any pension accrual. Both self-employed persons and employees can have annual space. But because as a self-employed person, in many cases you do not accrue a pension with an employer, there is a good chance that you have annual space to supplement extra pension in a tax-efficient manner. By making smart use of this annual space, you pay less tax now and at the same time build up a pension for later.
Tip: have you not used your annual space in recent years? Then you can still catch up, up to a maximum of 10 years ago.
Equity in Box 3
Instead of investing with a pension product, you can also set aside money yourself. On a regular savings or investment account. This capital falls into Box 3 and is exempt from tax up to a certain amount. The advantage is flexibility: you can always access the money. The disadvantage is that you need more discipline to really reserve this for your pension. In addition, the tax advantage that you have with an annuity or bank savings will no longer apply.
Mandatory pension funds
Some professional groups have a mandatory pension fund, even for self-employed people. Consider, for example, painters, plasterers, veterinarians, physiotherapists, general practitioners or notaries. If you fall into such a category, you must register with the pension fund. Look here on the Chamber of Commerce website for a complete list of these mandatory pension funds.
Continuing your pension through your former employer
You can often continue the pension scheme with your former employer. Please note: if you are employed, your employer will pay the employer’s portion. If you continue this pension scheme voluntarily, you will not only pay the employee part, but also the employer part. Check carefully with your pension provider what the conditions are and whether this is beneficial for you.
Tip: on November 12, 2025, the Pension 3 Day will focus on self-employed people and self-employed entrepreneurs. Look at Here is an overview of the activities that are organized.
The advantage of starting early
The sooner you start accruing pension, the greater the impact on your pension assets. You benefit from the interest-on-interest effect for longer. This means that you not only make a return on your investment, but also on previously achieved returns. This way your wealth grows exponentially.
Calculation example
Suppose you start at age 30 and invest €150 per month in an investment account with an average return of 5% per year. By the age of 67 you will have built up more than €240,000. Of this, €66,000 is your own investment and more than €174,000 is your return.
If you only start with the same deposit at age 40, you will end up with approximately €130,000. In that case, you have invested €48,600 yourself and built up €81,400 in returns.
The difference due to the deposit is ‘only’ €17,400. The interest-on-interest effect causes the largest difference, namely €92,600. The sooner you start, the longer your money can grow.
Checklist: this is how you arrange your pension as a self-employed person
- Step 1: Determine how much income you need later to live comfortably.
- Step 2: Make it clear what you have already accrued (AOW, possibly other pension or assets).
- Step 3: Calculate your annual space and reservation space so that you make optimal use of tax benefits.
- Step 4: Choose a method of additional accrual: annuity through bank savings, investing, savings or a combination.
- Step 5: Set aside a fixed amount, for example monthly by direct debit.
- Step 6: Evaluate annually whether you are still on track and adjust your contribution where necessary.
Finally
Arranging your pension as a self-employed person may seem like a daunting task, but the sooner you start, the greater the effect. It is not about large amounts at once, but about regularity and discipline. Start small, make it part of your financial routine and build a carefree future step by step. Because how nice is it to later have the freedom that you already appreciate as an entrepreneur? Are you looking for more useful tips especially for you as a self-employed person? Check this tool from Money Wise.
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