Budget Day 2022 focuses on repairing purchasing power

Your income for later is also covered by the measures.

Many people in the Netherlands are or will soon find themselves running into financial difficulties due to the extremely high level of inflation. That's why the government will be allocating a one-off amount of 17.2 billion euros in 2023 and 4.9 billion euros annually after that to repair consumers’ purchasing power. These measures will also have a long-term effect. Minimum wages in 2023 will rise by 10% and the Dutch state old age pension (AOW) as well as labour-related benefits will increase along with wages.

Watch the animation about the purchasing power of your pension at ING CDC Pensioenfonds.

New pension system
The new pension system is a part of the budget of the Ministry of Social Affairs and Employment (SZW). The Dutch cabinet is working to create a new pension system that is future-proof and better suited to meet the demands of today's labour market, in which most people work for multiple employers during their careers. The bill for the Future of Pensions Act (Wet toekomst pensioenen) is currently pending at the Lower House of Parliament.

(source: Dutch Pension Federation).