Plan for retirement

What? How much? When? How long? Many questions arise when you plan for retirement. Above all, it is about creating an overview of what your financial situation will look like when you retire.

PFA recommends

Get started well in advance

In our experience, it is a good idea to plan your retirement well in advance so that you have time enough to tailor your pension plan to meet the wishes and dreams you have for your retirement.

Use the Pension Plan at My PFA

My PFA gives you an overview of how much money you have saved up. If you open the Pension Plan, you can see a full overview of your retirement finances, including pension savings, bank savings and home equity. The Pension Plan illustrates your current situation, lets you simulate your future financial situation and make a plan to reach your financial goals for retirement.

You can try planning your retirement finances by distributing your different savings in a payout plan. You can also try adjusting the figures and see the effect of, for instance, saving more or changing your retirement age.

The Payout Plan gives you a detailed overview of your expected post-tax income as a retiree, so you can see whether your savings match your expectations or whether you need to make some adjustments.

Go through the checklists

Go through our checklists below to see what you should pay attention to in relation to your retirement finances today, right before you retire and once you have stopped working.

When can your pension be paid out?

When you can have your pension paid out depends on when your pension plan was established:

  • If your pension plan was established before 1 May 2007, you can have your pension paid out when you turn 60.
  • If your pension plan was established after 1 May 2007, you can, as a rule, have your pension paid out 5 years before the public retirement age applicable at that time.
  • If your pension plan was established after 1 January 2018, you are, as a rule, entitled to start receiving pension payouts three years before the public old-age retirement age applicable at that time


Checklist: What to do when?

  • Draw up your Pension Plan together with your adviser. See which money you should spend first ›

  • When should your instalment pension be paid out and for how long?

  • Should your life pension include security for your dependants?

  • What about your endowment pension/old age savings?

  • Notify PFA no later than 2 months before you retire if you want to receive pension payouts from the day you retire.

  • To receive payouts, you need to complete an agreement on pension payouts.

  • Please call PFA to request the agreement.

  • Life pensions and instalment pensions are paid out monthly in advance

  • PFA settles income tax on instalment and life pensions before they are paid out

  • Endowment pensions can be paid out as a lump sum or in portions

  • PFA still offers advice – for instance on the best spending order

  • Old age savings can be paid out as a lump sum, in portions or as equal payouts for a number of years or for life 

  • Insurance cover in the event of loss of occupational capacity and illness lapses

  • Your endowment pension and old age savings must be paid out no later than 20 years after the earliest possible retirement age

  • Your instalment pension must be paid out no later than 30 years after the earliest possible retirement age