KRALENDIJK – Retirees who receive a pension from PCN and AOV from RCN may experience changes in their net payments starting from July 1, 2024. Due to the increase in the AOV payment from RCN, the net amount of the PCN pension may change. In July, all affected retirees will be informed about this through a letter and a new salary slip.

The PCN pension fund withholds income tax on the pension payments. However, with the AOV payment, the tax-free allowance is already taken into account by RCN, so no tax is withheld from the AOV. PCN considers this to prevent retirees from receiving a back tax assessment from the tax authorities.

Due to the increase in the AOV amount as of July 1, 2024, PCN may withhold more tax, as the total income of the retirees will be higher. As a result, the net PCN pension may be lower for some retirees. All affected retirees will receive a letter and a new salary slip with further information in July.