old-age pension

The old-age pension is paid as a national and an earnings-related pension. Your retirement age depends on when you were born.

The old-age pension is the total earnings-related pension that you have earned during your working life. The older you are when you retire, the higher your pension will be.

The old-age pension under the National Pension Act supplements your earnings-related pension if it is very small. The retirement age on a national old-age pension is 65 years.

If you are an employee, the law says that you have to resign from your work before you start drawing your old-age pension. If you are self-employed, you can claim your old-age pension and continue your self-employment.

Read more about the old-age pension

Back to Pension Glossary