How do you accrue pension?

Your defined contribution is determined on a portion of your gross salary. For more information, please see Article 6.2 of the Payroll Pension Regulations. The salary that counts towards pension accrual is called the pensionable salary. The defined contribution is a percentage of your pensionable salary minus the deductible (the portion of the salary on which you do not accrue pension because you receive AOW pension). This percentage is 13.4% and is independent of your age. See the following example by way of explanation.

Mr Smith earns €2,400 in a month. The deductible for that month is 1/12 x €18.475,00 = €1.539,58 and the pension basis is then € 2.400 - €1.539,58 = € 860,42. 

The contribution that Mr Smith adds to his pension capital that month is: 13,4% x € 860,42 = € 115,30