Having children
If you have children, that will have quite an impact on your life. It is good to also consider your pension. And the impact these changes can have.
It may be that you or your partner temporarily start working less. Then not only your salary changes, but also the accrual of your pension. In addition, caring for the children also entails other responsibilities. Should you unexpectedly die, you would want your children to be left in an as strong a financially position as much as possible. Most pension schemes have an orphan's pension for that purpose. You can read more about this on the page In the event of death.
Impact of (temporarily) working less
One of the reasons for working part-time is caring for your children. Working less means that you also accrue less pension in many cases. For yourself and for your surviving relatives. Are you not going to reduce your contract hours but will you take parental leave? Then your pension accrual usually continues. This does differ per pension scheme. Therefore, check this with your employer or pension provider in advance.
What arrangements have been made if you die?
1. Orphan’s pension
Do you accrue pension via a pension provider? Then your pension plan probably also has an orphan's pension. This is intended for your children if you die. Have both parents or caregivers died? Then the children usually receive a double orphan's pension. The orphan's pension is often paid out until your children are up to 18 or 21 years old. Is your child studying? Then the benefit sometimes continues longer (often until his or her 27th).
2. Orphan’s benefit
If a child no longer has parents, that child is an orphan. In that case, your child can receive an orphan’s benefit from the government. This only applies if the parent who died last was insured under the Anw (General Surviving Dependants Act). This is usually the case if the parent lived or worked in the Netherlands. More information can be found on the website of the Sociale Verzekeringsbank (SVB).
Look under In the event of death to see the amounts that your children would get if you died now.
Would you like to know more about this? Then you can always contact your own pension provider(s) or the SVB.
