Low earners will find it impossible to retire at 65 when the new pensionable age comes into force in 2020, according to calculations made by trade union FNV Bondgenoten.

The pensionable age is due to rise to 66 in 2020 and to 67 in 2025. People will still be able to retire at 65 but will lose 6.5% of their pension each year until they reach the pension age.
The union asked tax experts to work out how much this would affect people’s incomes and the shortfall in income will be up to 19% for a married couple and up to 26% for a single person, reports Trouw.
This is not only because of the 6.5% reduction in pension but also because the tax authorities will class those who stop early as still working.