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How big is your pension gap?

July 06, 2023

Saving while you earn, so that you have enough income later while you are no longer working: that is, in short, how pensions work. But sometimes you save too little to have 'enough income' later. In such a case we speak of a pension gap. And unfortunately that is soon the case, we regularly notice. The sooner you make adjustments to solve a pension gap, the greater the chance that it will succeed. And our pension specialists will help you with these points for attention.

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When does a pension gap arise?

From the moment you stop working, you usually have two forms of income: your AOW and your retirement pension. But other pots also count. Think of your savings account, house and any investment accounts. Together, these sources form your pension assets. Ideally, this is high enough to live the way you want when you retire. You can check for yourself whether your accrued pension is sufficient. How much is your total pension gross and net? Make a list of what your income and expenses are expected to be. Which things will or can change? Does it appear that you are building too little? Then there is a pension gap.

You have a pension gap

If you continue to accrue pension steadily throughout your life, you will often come close to having the required capital – although that largely depends on your wishes. But don't count yourself rich. Nowadays, many pension schemes are a lot more meager than we used to be used to: no matter how well you accrue, a substantial drop in income can just happen. Moreover, certain moments in your life can strongly influence your pension assets. A job change and transition to another pension scheme, for example, or a divorce. In such situations you have to pay close attention and find out exactly what the impact on your pension is. You may suddenly be heading for an (even larger) pension gap.

The new pension system can also affect your pension assets. Curious how? You read it in dit article.

You can do what is necessary for a pension gap yourself

If it turns out that you have a pension shortfall, you can often make adjustments – and the sooner you start doing so, the greater the chance that you will succeed. For example, by saving extra yourself for later or by investing more in your pension scheme. Have you accrued pension with different funds? Then you can also find out whether value transfer is advantageous. With this you transfer the accrued capital from one scheme to the other. Please note: this is not always advantageous.

Feel free to enlist our help

In addition, ask our pension experts for help. During a personal meeting, they will find out how your pension is doing, discuss with you what your savings goal is and what options you have to reduce your pension gap. This way you can map out a plan.

More information

Do you have questions about your pension accrual, pension shortfall or would you like to make an appointment with our pension specialists? Contact us. Our Service Center can be reached every working day from 8.30 a.m. to 17.00 p.m. via sc@unie.nl and 0345 851 963.

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