In the Netherlands, vakantiegeld (vacation pay) is an extra payment that employees receive on top of their regular salary. It is typically paid once a year, around May or June. The amount of vakantiegeld you receive is based on your bruto jaarloon (gross annual salary) and the percentage of vakantiegeld that you are entitled to.
Percentage of Vakantiegeld:
The minimum percentage of vakantiegeld that you are entitled to is 8%. However, some collective bargaining agreements (CAOs) may provide for a higher percentage. For example, many civil servants receive 10% vakantiegeld.
Calculating Vakantiegeld:
To calculate your vakantiegeld, you can use the following formula:
Vakantiegeld = Bruto jaarloon * Percentage vakantiegeld
Example:
Let’s say you have a bruto jaarloon of €30,000 and you are entitled to 8% vakantiegeld. Your vakantiegeld would be calculated as follows:
Vakantiegeld = €30,000 * 8% = €2,400
Additional Considerations:
- Vakantiegeld is calculated based on your bruto jaarloon over the period from June 1st of the previous year to May 31st of the current year.
- If you have worked for multiple employers during the year, your vakantiegeld will be calculated based on your earnings from each employer.
- Vakantiegeld is subject to income tax and social security contributions.
For more detailed information on vakantiegeld, you can consult the following resources: