Tax credits are applied automatically
We apply the tax credits you are entitled to automatically. If your income is more than € 429 (for the general tax credit) or more than € 36,783 (for the elderly person's tax credit), this will be corrected when you submit your tax return. You will then either have to pay more in tax and national insurance contributions or your refund will be lower.
If you have not used up the full amount of your tax credit
If the amount of tax and national insurance contributions on your AOW pension statement is shown as €0.00, the tax credits will be more than the tax and national insurance contributions you have to pay. You will then not have used up the full amount of the general tax credit, and you will be paying too much tax. This will be corrected when you submit your tax return.
You do not have to have tax credits applied to your AOW pension
We will not apply the tax credits if you indicate on your AOW claim form that we should not do so. For example, you may prefer to ask your company pension fund to apply the tax credits to your company pension.
In that case, your net AOW pension will be lower, but your company pension will be higher. You should make sure, however, that your tax credits are applied to one source of income only, otherwise you will be paying too little in tax and contributions, and you will receive an additional tax assessment from the Tax Administration.
Having tax credits applied to your AOW pension or your company pension
You can choose to have the tax credits applied to your AOW pension or your company pension. Which option is the most advantageous for you will depend on your personal situation and preference.
If you receive an AOW pension and one other pension, we can advise you about the application of your tax credits.
If you already receive an AOW pension and wish to change the application of your tax credits
Let us know. Log on to My SVB using your DigiD code and leave your instructions under 'Vraag of mededeling'. State the month in which you want the change to take effect. (You should have the change take effect at the SVB and your company pension fund in the same month.)
If you live outside the Netherlands
Whether we can apply tax credits will depend on the country where you live.