News

The main points are:

• The accrual rate for 2019 remains at 1.61%.
• Your accrued pension is not being increased.
• If you leave our employment with a small pension in our fund, it will be transferred automatically to your new pension fund.

Accrual rate: 1.61%

That means the partners in the collective labour agreement, i.e. the employer and the trade unions, have entered into agreements regarding a fixed pension contribution paid by you and your employer. The accrual percentage which we can grant on the basis of this contribution is calculated each year. Last year, your pension accrual was 1.61%, and that remains unchanged in 2019.

Our target accrual rate is 1.875% a year, which is the maximum permitted in accordance with tax rules with a retirement age of 68.

How does this affect your pension accrual?
This means you will accrue less pension than the maximum possible for tax purposes in 2019. The parties to the collective labour agreement are making fresh agreements on the payable pension contribution for the period 2020 – 2024. It is therefore possible that your pension accrual will change next year.

Your accrued pension is not being increased

As money usually becomes worth slightly less each year, we try to increase your accrued pension each year (we call this indexation or pension supplementation). We are not permitted to increase your pension unless our policy coverage ratio is more than 110%. The policy coverage ratio presents the fund's financial position. Unfortunately, our policy coverage ratio does not allow for an increase in 2019. On the other hand, no reduction is required.

Are you leaving the company, and your accrued pension is lower than €484.09?

If so, we will automatically transfer your pension to your new pension fund or insurer in accordance with new legislation. We do this to avoid a situation in which you have several small amounts of pension with a number of different pension funds when you retire. If we are unable to transfer your pension, it simply remains with us. This could be the case if you have not yet found a new job, for instance. If your pension has been transferred, your new pension fund will inform you.

How can you see how these changes will affect you?

To gain an overview, you can log in to the secure Mijn Pensioencijfers (My Pension Figures) environment of this website or go to www.mijnpensioenoverzicht.nl. This information will be updated at the beginning of the second quarter of this year. The Uniform Pension Overview that you receive in 2020 (with the position as at 31 December 2019) will also show you how these changes affect your pension.

Do you have any questions?

If you have any questions concerning your pension, please contact us. Our staff would be happy to help.