Plans to allow pensioners to withdraw 10% of their entitlement as a lump sum have been postponed for a year by social affairs minister Eddy van Hijum.

Van Hijum said in a letter to parliament that he wanted to develop a tool to help people understand the impact of taking the one-off payment on the rest of their pension.

The law change, which was due to come into force on July 1, would give pensioners the option of receiving 10% of what they had saved as a one-off payment when they retired.

As well as reducing the subsequent monthly payments, the cash injection could affect the amount pensioners receive in means-tested benefits such as healthcare and housing allowances.

Van Hijum agreed to postpone the move after consulting pension providers, who already have their hands full managing the transition to the new-style pensions that will replace the large, monolithic sector-based funds with smaller customised pension pots.

The change is designed to reflect modern career trajectories, where fewer people stay in one sector for their whole working lives, and give pension more flexibility to invest on the financial markets, increasing both the risk and the potential reward.

Van Hijum said the decision to develop a tool was based on a recommendation by the national personal finance institute Nibud, which said pensioners needed help to understand the implications for their own situation, including exact figures.

The lower house of parliament has already approved the measure, but the senate still has to vote on it.