Liesbeth: ‘Your pension: get a calculation of the amounts!’

When making our connection via Teams, I happened to hear Liesbeth Brüggemann (62), mortgage adviser at ING, tell someone on the phone that she was on holiday. I asked her to explain, and she said this interview was actually the last item on her agenda. She would be taking up all of her outstanding leave and then retire. "I have mixed feelings about it" she added. "On the one hand I’m really looking forward to retirement, but on the other hand it feels very strange to be leaving ING after 24 years. It feels like I'm stepping down for the next generation."

Retiring at 62
"When I was 32, my husband and I separated. At the time I vowed to myself I’d stop working at 62. Now that the time has come, I have mixed feelings about it. He had his own company and was saving into his pension by himself. After our divorce, I invested half of my pension so I’d be able to retire after 30 years. I had a choice between getting a guaranteed amount based on a fixed interest rate of 8% or investing the money. I’ve always been interested in financial topics. Mortgage, of course, but also taxation and pension. But if I had known then what I know now, I would have opted for the 8%."

Do fun things
"All in all, I should be getting enough pension to live comfortably. I had it figured out some time ago, and the outcome was that I’d be able to retire at 63.5 years of age. But I’m single. If I were to continue working until I turned 67 and got my full pension, I wouldn't even be able to spend it all. By retiring early, I still get a normal pension income that lets me go on holidays and do fun things with my children and grandchildren."

Start on time
"It all started when a pension adviser came to visit our office. I asked him what happens if you reduce your working hours. He simply replied, ‘You should just stop entirely. Call me if you want to find out more.’ So one year later, I did. And that's how it all started. When I checked the government’s website www.mijnpensioenoverzicht.nl, my prospects looked good, but it didn't show me what options I had. So the adviser's comment was a real eye-opener. The implications of retiring early were very limited for me."

Much clearer
"I’m surprised that so many people are prepared to pay a lot of money for mortgage advice, but they're not willing to do the same for a pension adviser. He clarified a lot and took into account my plans for the future. How much do I spend on holidays, family, gifts and, of course, food? Then he calculated how much money I would need in order to retire at different points in time. It helped me a lot. You can get that advice even if you’re 35. Of course your plans might still change at that age, but then you could have the conversation again. It’s really very helpful."

Want to know more about pension advice? Check it here.