Everyone who becomes 65, is entitled to AOW. This therefore applies both for employees and for employers. In some company branches it is obligatorily as a self-employed person to take part in the pension fund of that company branch. Sometimes you voluntary can take part in a company pension fund. However, you generally must take measures yourself for an additional old age pension system. You have a number of options. Well-known old age pension systems are the -oudedagsreserve- (FOR) and life interest-insurances. Possibly the sale of the venture will provide you with sufficient money capacity.
Pension is a complex subject. Insurance is offered by a lot of societies. Consult an advisor for further information and recommendation. You find a short explanation here concerning most known pension supplies.

National Old Age Pensions Act (AOW)
Everyone who becomes 65, is entitled to AOW, also the independent entrepreneur. To qualify for a complete benefit, it is required that someone from its fifteenth up to its sixtyfourth life year has in the Netherlands. Every year that someone has lived outside the Netherlands, ensures a reduction of two per cent on the benefit. The AOW benefit is a minimum -voorziening-. If you want a higher income, then you must make other arrangements. The AOW is paid by the Social Insurance Bank.

Pension
The LTD pays a pension benefit after reaching the pension age (that it has been raised of sixty to sixty-five years). At a earlier death the benefit is supplied to the surviving dependants. On this gross pension benefit tax and national insurance contributions are implied. Pension granting must be laid down in a pension agreement between yourself and the LTD. Also you can incorporate a life interest obligation which gives a benefit on your sixtyfive year or after your death to your surviving dependants in its own LTD. Also this obligation can bring you at the expense of the fiscally charged result. This benefit is income and has been charged with income tax.

Tax old day reserve (FOR)
The FOR is an amount which you can put ' aside ' to save for your old age pension system. Concerning that amount you provisionally pay no tax. Annually you can reserve maximum twelve percents of the profit from your company. The amount cannot be higher than 11,050 euro (in 2006). The FOR is a reserve on the assessment of your company and cannot higher be than your business assets. You indicate on your tax return to the use of the FOR and move imposition concerning a part of the profit to the future. The intention is that you at a certain moment, at the latest at strike of the venture, this reserve uses for an old age pension system. At termination or sale of the venture the FOR belong up to the income charged in box 1 and there still must income tax be paid. This can be prevented by paying the FOR as a life interest at an insurance company. To be able use the FOR an entrepreneur must be a minimum 1225 hours on an annual basis operative for the venture.
Moreover at the beginning of the calender he canonot be year sixty-five years or older. The FOR can be applied by owners of a -eenmanszaak-, associates in VOF or half-measures in a civil partnership. It is no regulation for legal persons.

Annuity insurances
You pay monthly or annual money, that it is managed by the insurer. At an agreed moment the built capital is converted into a fixed benefit (the life interest). You decide yourself if you pay each month a fixed premium, or that you from time to time an amount pays (buy sum). As of 1 January 2003 you can deduct premiums for life interests mentioned below, if you can show that you a pension shortage. The moment your end capital is converted into a fixed benefit, you can choose from several types life interests (combinations are also possible). The Tax and Customs Administration has a calculation programme for life interest deduction.

-Oudedag- life interest
You receive the periodically benefit yourself until you pass away. Afterwards the benefits stop. The benefit cannot enter later than in the year in which you become 70.

Surviving dependant life interest
This life interest pays after your pass away to your surviving dependants.

Transitional life interest
With this you can alleviate a temporary income setback, for example when you quit working before becoming 65. Your income is omitted, whereas you stil don't receive AOW and/or pension. By 1-1-06 the possibility expires to fiscally deduct the premiums for a transitional life interest. For existing situations from before 2006 there is still a deduction possible.

Temporary -oudedags- life interest
The benefit gives during a period chosen by you an supplement on your pension and/or AOW. The benefit duration is at least five years.