Conditions for Applying for AOW Voluntary Insurance

The application for an AOW voluntary insurance has strict conditions to qualify. You must be at least 18 years old and not yet have reached AOW age. Importantly, you can apply no more than 15 years before your AOW age, and the insurance may not overlap with periods in which you were already compulsorily insured. For migrants, the insurance can only supplement missing periods before residence in the Netherlands, provided you have lived in the Netherlands for more than six months. The premium depends on your income and is recalculated annually based on the minimum wage. Retroactive applications are limited to three years back. According to Article 10, paragraph 2 of the AOW, the application must be submitted in writing to the SVB with supporting documents such as passport and residence permit. Rejection may follow if there is insufficient financial capacity or if the period has already prescribed. It is advisable to consult a financial advisor to calculate whether the investment is worthwhile, as the benefit only becomes profitable after years. (198 words)