What are the benefits as you age?

IOAW means: Dutch Income Support Act for older and partially disabled unemployed workers. The IOAW is a benefit for older unemployed people. You can get this benefit if you are older and your

• You were 50 years of age or older when you became unemployed

• You were entitled to unemployment benefits that have expired

• You are not receiving

  AOW

• You have little or no income

• You are willing to look for work

You get IOAW as long as you meet the conditions. IOAW benefits stop when you have enough income again or have reached

• Single: about 70% of

  minimum wage

• Living together or married: together about 100% of the minimum wage

Do you have income from work or another benefit? Then the municipality will deduct this from the IOAW. If you receive IOAW, you must:

• Continue to actively look for work.

• Accept appropriate work.

• Report changes in your income or situation to the municipality.

IOAZ means: Dutch Income Support Act for older and partially disabled former self-employed persons. The IOAZ is a benefit for older

• Are 55 or older (but under the state pension age)

• Were self-employed (self-employed or own business)

• Have to quit your business because you do not earn enough

• Have been self-employed for at least 10 years

• Meet the requirements of the municipality.

With the IOAZ, the municipality does not look at your savings or assets. This is different from welfare benefits. You receive IOAZ until you reach the AOW pension age, as long as you meet the conditions. If you work again and have sufficient income, the benefits can stop or be reduced. The amount of IOAZ is similar to welfare benefits:

• Single: about 70% of the minimum wage

• Living together or married: together about 100% of the minimum wage

Do you have other income? Then the municipality will deduct it from the IOAZ benefit. If you receive IOAZ, you must:

• Stop your business

• Participate in guidance from the municipality

• Report changes in your income or situation immediately.

AOW means: 'Algemene Ouderdomswet' (Dutch General Old Age Security Act). The AOW is a basic income for the elderly. You receive AOW when you reach the AOW age of 67. Accrual begins 50 years before you reach the AOW age and stops when you receive AOW. For every year that you lived or worked in the Netherlands during those 50 years, you accrue 2% AOW. Did you not always live in the Netherlands for those 50 years? Then your AOW benefit will be lower.

You get AOW for the rest of your life, starting at your AOW age. The AOW only stops when you die.

The AOW is not welfare benefits and does not depend on your income or savings. The AOW benefit is paid by the

The SVB automatically sends you a letter when you are about to receive AOW. You must apply for the AOW yourself through the SVB (online or by post).

The amount depends on your living situation:

• Single: about 70% of the minimum wage

• Living together or married: about 50% of the minimum wage per person

The amounts are adjusted every six months.

In addition to the AOW, you can also:

• Have an additional pension

• Earn extra income without stopping your AOW.

A pension is extra income in addition to the AOW

You accrue pension through your employer or independently (for example, as a self-employed person). Pension comes from a pension fund or insurer, not from the government.

The amount depends on:

• How much you worked

• How much you earned

• How long you have accrued pension

Not everyone has a pension. Pension is meant to supplement the AOW.

In a nutshell: AOW is a basic income from the government, but pension is additional income that you accumulate yourself through work.

IOW means: Dutch Act on Income Support for Older Unemployed Persons. The IOW benefit is a benefit for older unemployed people who have not found work after their unemployment benefits. The IOW is meant to bridge the gap until the AOW age. The IOW benefit is paid and administered by the

• You were 60 years of age or older when you became unemployed

• Your unemployment benefits have ended

• You do not receive a state pension

• You have not found a new job

• You live in the Netherlands.

You get IOW until you reach AOW age, as long as you meet the conditions. The benefits stop when you have sufficient income again or your AOW starts. The amount of IOW is about the same as welfare benefits:

• Single: about 70% of the minimum wage

• Living together or married: together about 100% of the minimum wage

Do you have income from work or another benefit? Then the UWV deducts this from the IOW. If you receive IOW, you must:

• Remain available for work.

• Accept appropriate work.

• Report changes in your situation to the UWV immediately.