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Home » Reader question » Reader question: Tax on state pension?
Reader question: Tax on state pension?
Dear readers,
I have been living in Thailand as an early retiree since the end of December 2015. July next I hope to reach the age of 63. At the moment I receive a monthly pension from the ABP with which I amply meet the income requirements to be allowed to live in Thailand.
My state pension age is 67 years and 3 months. I will then receive a lower ABP pension (the net amount is already known) and also an AOW benefit. I understand that the state pension amount per month depends on whether you are single or cohabiting. I have seen both gross amounts.
My question: I understand that everything can change in the meantime, but I would like an indication of what tax is deducted from the known gross amounts.
Can Thailandblog readers who are already dealing with this indicate to me what percentages they are dealing with?
Regards,
Rob
The first question I have is: Have you been deregistered from the Netherlands? If so, the following applies:
You then pay 8.9% income tax on your ABP income and AOW benefit. You can find the amounts on your annual statements of the ABP and SVB.
With your income tax return, these 2 gross amounts will be added together and you will (probably) have to take into account the 1st bracket 8.90% of euro 19982 and the rest 2nd bracket 13.15%
If deregistered, no health insurance premium or whatever.
If not deregistered, I advise you to simply look up the tax table for bracket 1 and 2 on the internet. There you will also find the percentage for the health care premium, etc.
I don't believe that is entirely correct. I have lived in Thailand for a long time, have an AOW pension, an ABP pension and have been deregistered from the Netherlands. My age is 73 years. The ABP pension is “normally” taxed, the AOW benefit is NOT TAXED!
This means: only a tax amount is deducted from the annual AOW holiday payment in May, but that relatively small amount is neatly returned annually via the income tax return.
In my view, the AOW benefit is not tax-free, but no deduction is made in your case. However, when you file your income tax return, AOW and ABP pension are added together and what you owe is calculated over the total.
Dear Henk,
The fact that no wage tax is withheld from your AOW benefit, except for your holiday allowance, does not mean that it is "not quite right", as you write.
The SVB does calculate wage tax on your AOW benefit, but in your case it deducts the tax component of the general tax credit, the elderly person's tax credit and perhaps also the single elderly person's tax credit. If the total of these tax credits is higher than the wage tax owed, no withholding will take place.
But from 1 January 2015 you are no longer entitled to tax credits, among other things, if you live outside the EU, Iceland, Norway, Switzerland, Liechtenstein or on one of the BES islands.
This is an error by the SVB, which I encounter repeatedly in my practice. In some cases, the SVB even made it so furious that the customer, who initially did not apply the tax credits, completely wrongly received a letter from the SVB stating that it had discovered that the customer was still entitled to tax credits. This is based on total ignorance on the part of the SVB.
This wrong state of affairs is regularly found by the tax authorities and then the turnips are done (or say: burnt black). You can then count on additional assessments by the Tax and Customs Administration for the years 2015, 2016 and 2017, plus tax interest. You will also receive a provisional assessment for 2018.
For a short time you are "allowed" to deposit at least 3 months of AOW benefit into the bank account of the Tax Authorities at ING. You may pay the 4th monthly payment (the provisional assessment for 2018) in installments during the remaining months in 2018.
And in your case it could even be considerably more than three months of AOW benefit in connection with your ABP pension. Keep that in mind.
You owe 2018% wage tax on your AOW benefit for 8,9. If the SVB does not deduct this from your benefit because they still apply the tax credits, you are in principle obliged to inform the SVB that the tax credits should not be applied. You do this with your DigiD at “My SVB”. Otherwise, you will have to file an income tax return, because you know that you owe more than € 45 on an assessment. In one case, the Tax and Customs Administration applied a default penalty to a client of mine for not filing a tax return on time. I objected, of course, and with success.
The Tax and Customs Administration may still impose assessments up to 5 years after the tax year. And if that doesn't happen within those 5 years, you've been lucky and you can think of a party with family and friends.
I wish you a lot of succes.
Lammert de Haan.
Dear Rob,
I understand from your message that you already live in Thailand and then, in principle, not much will change for you. From a tax point of view, everything remains the same.
I will assume that your ABP pension is a pension obtained from a government position. Due to the incorporation of the AOW benefit still to be obtained, this pension will decrease sharply. However, it will remain taxed in the Netherlands, just like now. This also applies to the state pension to be obtained by you.
As you already know, both benefits together will be grossly lower than your current pre-pension. If you want to know what you will be left with net after reaching state pension age, send me your future gross income data and you will receive a detailed calculation from gross to net by return mail, both if you live in the Netherlands and if you live in Thailand. You can then immediately see what more you “may” pay in tax ONLY because you live in Thailand if the tax and national insurance contributions are TOGETHER when you live in the Netherlands! Isn't that logical?
I make these kinds of calculations about 3 to 4 times a week for people who have emigration plans or (and this has happened a lot lately) are considering remigrating.
For such a calculation you can contact me via my e-mail address: [email protected].
To be on the safe side, state something more about your ABP pension in your message. It is also possible that you have built this up from a position at a government company or a private educational or healthcare institution that is affiliated with the ABP. In those situations you are exempt from wage tax and income tax. But that would already apply now, provided you have an exemption decision from the Tax Authorities. Otherwise, you would have already requested a refund of the wrongly withheld amounts by means of an income tax return.
Consider this a service to a reader of Thailand Blog (with 275.000 visitors per month, by far the largest Thailand community in the Netherlands and Belgium with useful information, reader questions and answers on a daily basis).
Lammert de Haan, tax specialist (specialized in international tax law and social insurance).
Best for 6 Months that You receive AOW and a Month Before that you have to indicate via the website that I want to receive my Aow on the Bank Account …..67 and 3 Months, see for yourself and that's it, greetings Dirk Teur Couzy, at Facebook 08782084000
I just sent you an email (May 9).
I've seen Rob but from May 10th. Will you answer..
I'm biased! You will be caught on all sides by BV Nederland! If you start living together, you (formally) immediately lose about E 300 p/m. You will also lose your health insurance in NL and insurance in Thailand is E150-200 p/m more expensive (after all, you insure a “burning house”!). And if you are already over 65 years old, you can no longer insure yourself.
I would – if I were you – think twice!
Good luck!!
Moderator: Off topic
I have had AOW since December last year, I am now 66 and deregistered in the Netherlands in February, now received a message that I no longer have to pay the Zvw premium and received the paid premiums from March and April 2 days ago. , happens automatically. Tribute to SVB, which concerns me.
Saves 45 euros per month, now only pay some tax, 36 euros.
It was also the same with my pension fund, no longer pay taxes and premiums on this, received a proper message and a higher benefit. They receive the data that you have been deregistered from the BRP.
Indeed, you will immediately be kicked out of health insurance without mercy, you don't get the time to look up an insurance policy here, which takes some time.
Incidentally, I succeeded for about the same costs as in NL, 50360 THB per year, although it is a kind of basic insurance with Aetna, but at least I am not walking around uninsured. Medications were also not reimbursed in NL, so that doesn't matter, moreover they are half cheaper here and without the hassle of prescriptions and smarties in the pharmacy.