How do you treat a self-managed pension (pensioen in eigen beheer) in the annual accounts of a BV?
A BV that has a self-managed pension for the director-major shareholder (DGA) recognises on the balance sheet a provision for the obligation accrued up to the balance sheet date (RJ 271.318; RJk B14.110). An old-age liability under the Wet uitfasering (Dutch phase-out act) is shown separately under liabilities, at tax book value. This concerns the annual accounts only.
The short answer
A BV that has a self-managed pension for the director-major shareholder (DGA) recognises on the balance sheet a provision for the obligation accrued up to the balance sheet date (RJ 271.318; RJk B14.110). An old-age liability under the Wet uitfasering (Dutch phase-out act) is shown separately under liabilities, at tax book value. This concerns the annual accounts only.
Updated 30 October 2026
Two different items
A self-managed pension (pensioen in eigen beheer) is a pension arrangement that the BV runs itself, or through a holding company or directors' pension vehicle, instead of through an insurer or pension fund. Since 1 April 2017 the Wet uitfasering pensioen in eigen beheer has been in force and the DGA could use phase-out options up to and including 2019 (Dutch Tax Administration). In the annual accounts you can therefore come across two kinds of items.
| Pension provision | Old-age liability | |
|---|---|---|
| What it is | The BV has a pension promise that it must honour itself | Obligation resulting from conversion under the Wet uitfasering |
| Where on the balance sheet | Under provisions (art. 2:374 DCC) | Separately under liabilities |
| Valuation | Accrued obligation, actuarially calculated and discounted | Tax book value |
| Source | RJ 271.318; RJk B14.110 | RJ 271.318b; RJk B14.110a |
How to determine the provision
The BV recognises a provision for what has accrued at the balance sheet date. That includes the accrued entitlements, including future indexations that have been unconditionally agreed. Indexations that depend on a future event do not belong to the accrued obligation; including them is a choice (RJ 271.318a). Expected future salary increases have no longer been part of the calculation since the phase-out.
The calculation is actuarial: a method generally accepted in the Netherlands, with assumptions that reflect your best estimate. The expected payments are discounted at the market rate at the balance sheet date on high-quality corporate bonds (RJ 271.316); if there is no liquid market for them, at the rate on government bonds. An actuary or your adviser performs the calculation; the annual accounts include the outcome.
Changes in the provision go through the profit and loss account, charged or credited to the result (RJ 271.317). A rising interest rate lowers the present value and gives a release; a falling rate raises it. The unwinding of the discount, because the payout comes a year closer, is a fixed charge.
Case: Van Dijk Installatie BV
Van Dijk Installatie BV (fictional, small) has long had a self-managed pension arrangement for the DGA. The pension provision stood at € 412.000 on 31 December 2024. In 2025 the actuary calculates an unwinding of € 9.800 (the present value comes a year closer) and a release of € 14.000 because the market rate has risen. There is no further accrual.
| Movement in pension provision | Amount |
|---|---|
| Position 1 January 2025 | € 412.000 |
| Unwinding (charge) | + € 9.800 |
| Release due to higher interest (income) | − € 14.000 |
| Position 31 December 2025 | € 407.800 |
On balance € 4.200 was released in 2025, income in the profit and loss account (14.000 − 9.800). Equity is € 407.800 lower than without the provision. A reader who does not know that sees a BV with a lot of cash or investments that are not freely available for distributions; that is why the notes mention the arrangement and the basis. If the BV also has an old-age liability of € 153.000 (31 December 2025, at the tax book value the adviser calculates), it appears as a separate item under liabilities and not in the provision.
Per size class
- Micro: the balance sheet has a line for provisions; valuation follows section 6 of Title 9 (RJk M1). A micro BV with a self-managed pension therefore also recognises the provision. It can apply tax valuation principles, but then all tax principles that apply to it (art. 2:395a(7) DCC and RJk M1).
- Small: RJk B14 (B14.110). Here too the provision or the old-age liability. The notes are shorter than for medium-sized or large, but do state the principles used and the discount rate (art. 2:384(5) DCC); a small BV can also opt for the full RJ.
- Medium-sized and large: RJ 271, including the disclosures of RJ 271.324 where applicable: the arrangement, the principles, the characteristics of the implementation agreements.
For the pension item itself, that is the provision and the old-age liability, the class makes no difference: both always exist if there is an obligation. Only the amount of disclosure differs. Read RJ 271 employee benefits and what is a provision.
What this page does not answer
The tax side, such as buy-out, conversion, partner consent and tax, falls outside this page. The Dutch Tax Administration describes the phase-out options on its own page; consult your adviser for your arrangement. This is an explanation of the annual accounts, not pension advice.
How it works at Jaarrekening.io
Jaarrekening.io does not make the actuarial calculation of the provision; your adviser supplies it. The app helps with the balance sheet and the publication version per size class. The first set of annual accounts in your account is free, for every size class.
Sources
- Art. 2:374 DCC: provisions, text applicable from 1 July 2026 (wetten.overheid.nl)
- Art. 2:395a DCC: micro-enterprise, text applicable from 1 July 2026 (wetten.overheid.nl)
- Art. 2:396 DCC: small legal entities, text applicable from 1 July 2026 (wetten.overheid.nl)
- Dutch Tax Administration (Belastingdienst): phase-out options for self-managed pension from 1 April 2017
- Dutch Accounting Standards Board (Raad voor de Jaarverslaggeving): RJ 271 and RJk B14
Frequently asked questions
Must a self-managed pension be on the BV's balance sheet?
Yes. The BV recognises a provision for the pension obligation accrued up to the balance sheet date (RJ 271.318; RJk B14.110). For an old-age liability under the Wet uitfasering a separate liability at tax book value applies.
What is the difference between the pension provision and the old-age liability?
The provision covers a pension promise that the BV itself still has to honour and is valued actuarially. The old-age liability arises from conversion under the Wet uitfasering and is shown as a liability, at tax book value.
How do I value the pension provision?
Actuarially, using a method generally accepted in the Netherlands, discounting at the market rate on high-quality corporate bonds (RJ 271.316). An actuary performs the calculation.
Does this also apply to micro BVs?
Yes. Valuation follows section 6 of Title 9 and the balance sheet has a line for provisions. The micro BV can, however, choose tax valuation principles if it applies all tax principles that apply to it (art. 2:395a(7) DCC for micro, art. 2:396(6) DCC for small; RJk M1).
May I leave out the pension obligation if the BV makes little profit?
No. An existing obligation belongs on the balance sheet. It can reduce equity sharply or make it negative; then the going-concern question also arises (art. 2:384(3) DCC).
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