Depends on how you arrange it. In the Netherlands we have a wealth tax, but pensions are not affected by it. Pensions are counted as "deferred income", so you c

Depends on how you arrange it. In the Netherlands we have a wealth tax, but pensions are not affected by it. Pensions are counted as "deferred income", so you can pay into them with "pre-tax" money but when the pension is paid out the income tax is applied. This makes it so that it is beneficial for workers to save into their pensions, since the effective income tax of pensioners is usually lower than for people still working.