What is holiday money and when do you get it?

If you’ve been working in the Netherlands, you’ve probably heard the word ‘vakantiegeld’. But what is it exactly? When do you receive it? And how much will you get?

In this blog, we will explain everything you need to know about this popular Dutch work benefit.

What is vakantiegeld?

Vakantiegeld means ‘holiday money’. It’s extra money that employers in the Netherlands are legally required to pay on top of your regular salary. The idea is simple: this bonus helps you enjoy your summer holiday or cover other expenses that you might have during this time of year.

When do you get it?

There are two common ways to receive your vakantiegeld. This depends on where you work.

• Weekly: most flex workers receive vakantiegeld on top of their hourly wage every week.
• Annually: want to receive your holiday pay yearly? That’s possible, upon request!

Either way, it’s paid automatically.

How much is it?

Your holiday money is about 8-10% of your gross annual salary. So, the more hours you work, the more you receive. If you work part-time or only a few months, the amount will be adjusted accordingly.

Where can you see it?

Your pay slip shows how much vakantiegeld you’ve built up, if it applies to you. Look for a line that says ‘vakantiegeld’ or ‘holiday allowance’.  Just a quick reminder: just like your regular salary, vakantiegeld is taxed. So, the amount you receive in the bank will be net (after taxes), not the full percentage.

Got questions about this? Ask your Job Coach, they’re happy to help you understand your pay slip or payment!