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 (5)

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 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 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 Noodvoorziening voor ouden van dagen ⓘ
subjectTo income tax in the Netherlands ⓘ
translatedName General Old Age Pensions Act ⓘ

How these facts were elicited

Referenced by (6)

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 ⓘ
AOW → fullName → Algemene Ouderdomswet ⓘ
linked to: old-age pension law (AOW) in the Netherlands
AOW → replaced → Noodvoorziening voor ouden van dagen ⓘ
linked to: old-age pension law (AOW) in the Netherlands
Sociale Verzekeringsbank → administersProgram → AOW state pension ⓘ
linked to: old-age pension law (AOW) in the Netherlands
Sociale Verzekeringsbank → administersProgram → AIO supplementary income provision for the elderly ⓘ
linked to: old-age pension law (AOW) in the Netherlands
AOW → standsFor → Algemene Ouderdomswet ⓘ
linked to: old-age pension law (AOW) in the Netherlands