old-age pension law (AOW) in the Netherlands

E151092

The old-age pension law (AOW) in the Netherlands is the national public pension scheme that guarantees residents a basic state-funded income from the statutory retirement age onward.

All labels observed (3)

How this entity was disambiguated

Statements (50)

Predicate Object
instanceOf Dutch law
public pension scheme
social security benefit
abbreviation AOW
adjustedBy periodic legislative reforms
administeredBy SVB
Sociale Verzekeringsbank
appliesTo certain Dutch residents temporarily abroad
persons legally resident in the Netherlands
benefitIndexation linked to minimum wage
benefitLevel depends on household composition
benefitLevelFactor incomplete insurance record reductions
married or cohabiting couple rate
single person rate
benefitPaymentFrequency monthly
benefitProvider Government of the Netherlands
surface form: Dutch central government
benefitStartAge statutory AOW age
benefitType flat-rate pension
coordinatedWith EU social security regulations
country Netherlands
coverage virtually all residents of the Netherlands
effectiveFrom 1 January 1957
eligibilityBasis insurance record in years of residence
residence-based
eligibilityCriterion having lived or worked in the Netherlands
reaching statutory AOW pension age
financedBy general tax revenues
social insurance contributions
fullName old-age pension law (AOW) in the Netherlands self-linksurface differs
surface form: Algemene Ouderdomswet
fullPensionRequirement 50 years insured between age 15 and AOW age
fundingModel pay-as-you-go
insuranceAccrualRate 2% of full AOW per year of residence
introduced 1957
jurisdiction Kingdom of the Netherlands
languageOfName Dutch
legalArea social security law
legalForm national statute
legalSystem civil law system of the Netherlands
linkedTo statutory retirement age developments
maximumAccrualPeriod 50 years
pillar first pillar of Dutch pension system
policyGoal ensure basic income floor for elderly
share old-age income risk collectively
purpose prevent poverty among elderly residents
provide basic old-age income
relatedTo Dutch occupational pension schemes
supplementary private pensions
replaced old-age pension law (AOW) in the Netherlands self-linksurface differs
surface form: Noodvoorziening voor ouden van dagen
subjectTo income tax in the Netherlands
translatedName Old Age Pensions Act 1908
surface form: General Old Age Pensions Act

How these facts were elicited

Referenced by (3)

Full triples — surface form annotated when it differs from this entity's canonical label.

Willem Drees notableWork old-age pension law (AOW) in the Netherlands
old-age pension law (AOW) in the Netherlands fullName old-age pension law (AOW) in the Netherlands self-linksurface differs
subject surface form: AOW
this entity surface form: Algemene Ouderdomswet
old-age pension law (AOW) in the Netherlands replaced old-age pension law (AOW) in the Netherlands self-linksurface differs
subject surface form: AOW
this entity surface form: Noodvoorziening voor ouden van dagen