Premiums and Costs of Voluntary AOW Insurance in Delft

In Delft, the premium for voluntary AOW (General Old Age Pensions Act) insurance amounts to approximately 20% of the annual minimum wage, which translates to roughly €1,500 to €2,000 per missing year in 2024. This premium is tax-deductible as a 'social insurance contribution,' making it particularly advantageous for residents of Delft with higher incomes in the high-tech and academic sectors. For partners in Delft, a discount applies if both participate, such as for employees of TU Delft. The Social Insurance Bank (SVB) calculates the exact costs based on your gross annual income and indexes these annually. Payment can be made in installments or as a lump sum, with the possibility of exemption through special municipal assistance for low-income earners, such as young professionals in the city. According to the *Decree on Voluntary AOW Insurance* (Article 5), the insurance lapses in case of untimely payment, without refund. **Return on Investment:** For each supplemented year, you receive approximately €1,200 gross in additional AOW benefits per year, indexed for inflation. For example, supplementing 10 years costs €18,000 but yields €12,000 per year from the AOW retirement age—relevant for Delft residents with careers in the Delft-Schiedam region. Consider life expectancy; in case of early death, the loss may be greater. Compare this with private pension schemes or local arrangements via the Delft Social Support Act (Wmo) desk for an optimal choice. For personalized advice, contact the SVB or the Delft social services desk.