House of Representatives agrees to ‘lump sum’
Other news
Published on:
When you retire, you will soon be able to take part of your pension in one go. We call this the ‘lump sum’. The House of Representatives reached this decision on 10 October 2024. If the Senate agrees, you will be able to withdraw a lump sum from 1 July 2025 at the earliest.
Take 10% in one go on your retirement date
You can take a maximum of 10% of your pension in one go. You can only make this choice at the point when you retire. It’s up to you to decide what to use the money for. However, this does mean that you will receive a lower pension for the rest of your life. And it may have consequences for your rent allowance or healthcare allowance, for example. Want to know exactly what the lump sum means? In that case, visit our page about the lump sum.