Premium and Costs of AOW Voluntary Insurance in Leiden

In Leiden, the premium for the AOW voluntary insurance amounts to approximately 20% of the minimum wage per year, which comes to about €1,500 to €2,000 per missing year in 2024. This premium is tax deductible as 'contribution to social insurance premiums', particularly attractive for Leiden academics and higher-educated individuals with above-average income at Leiden University. For partners in the Leiden-Rijnstreek region, a discount applies if both participate. The SVB calculates the exact costs based on your gross annual income and indexes them annually. Payment is made in instalments or in a lump sum, with the possibility of remission for low incomes via exceptional welfare from the municipality of Leiden – contact the Leiden Service Point for application. According to the Decree on Voluntary AOW Insurance (article 5), the insurance lapses upon untimely payment, without refund. Return: per supplemented year, you receive approximately €1,200 gross AOW per year extra, indexed with inflation. Example: supplementing 10 years costs €18,000, but yields €12,000 per year from AOW age – ideal for Leiden expats or part-timers in the healthcare sector. Take life expectancy into account; in case of early death, it is a loss. Compare with private pension build-up via local advisors in Leiden city centre for the optimal choice.