Paid in more than your annual margin? Or transferred money to your pension account by mistake?

Have you paid money into your pension account and later discovered that the amount was too high, or that you did not mean to make the deposit? Here is what you need to know about your options.

You cannot simply reverse an accidental or excessive deposit. A pension account is designed to help you build up money for your pension. In principle, any money you deposit remains locked in until your pension payments start.

1. You paid in too much
   Have you paid in more than your annual margin? Check whether you still have any reserve margin from the past 10 years. You may still have reserve margin available.
2. You paid in money by mistake
   Did you accidentally transfer money to your pension account? This deposit cannot simply be reversed either. Read on to find out what you can still do.

Unfortunately, not as a standard refund. Following changes to the 2026 Annuities Decree, an accidental or excessive deposit can no longer be refunded without tax consequences. This means the amount you deposited will, in principle, remain in your pension account. This applies whether you paid in too much because:

• you calculated your annual margin incorrectly
• you made several deposits
• you transferred money to this account by mistake

Always check how much you can deposit before making a deposit. Look at both your annual margin and any reserve margin. You can calculate your total tax-relief allowance using this tool from the Dutch Tax and Customs Administration (in Dutch). Only the part of your deposit that falls within this tax-relief allowance may qualify for tax relief. You can find more information from the Dutch Tax and Customs Administration (in Dutch).

1. Using your right to cancel
   If you close your pension account within 30 days of opening it, we will return your deposit to your current account without making any deductions. This is your right to cancel. Please note: this exception does not apply to Pension investment (Pensioenbeleggen) once the money has reached the investment account.
2. Applying for a statement of non-deducted premiums or payments
   Have you paid in more than your tax-relief allowance? You can apply to the Dutch Tax and Customs Administration for a ‘Verklaring niet-afgetrokken premies of bedragen’ - a statement of non-deducted premiums or deposits, also known as a balance statement. This records which part of your deposit was not deducted for tax purposes. It will not return your money, but it may help prevent you from being taxed twice later.

Please note that a maximum applies. If you did not deduct all or part of your premiums or deposits, you can include no more than € 2,269 in non-deducted premiums or deposits per year. This maximum applies across all your pension insurance policies, pension accounts and investment rights combined. See what this means for you on the Dutch Tax and Customs Administration website (in Dutch).

You can withdraw the money early, but this is often an expensive option. The Dutch Tax and Customs Administration treats a withdrawal from all or part of your pension account as surrendering your pension provision.

You will pay income tax on the amount withdrawn and may also have to pay revision interest. Service charges may apply too. As a result, you will usually receive considerably less than the amount you originally paid in.

Our advice is simple: calculate both your annual margin and any reserve margin before depositing money into your pension account. This helps you avoid unwelcome surprises and make the most of the tax benefits of building up an extra pension.

Calculate your tax-relief allowance (in Dutch)

Tip: Gather the following information before you start:

• your annual salary details or income from your business
• your Factor A — the pension growth figure shown on the latest statement from your pension provider
• any extra amount you have already built up through pension savings or pension investments with a bank or insurer