Choose retirement age

Checked on 15 December 2020

Choose your retirement age

Have you reached the age of 60? Then you can choose your retirement age. You decide at what age you will retire.

If you accrue pension with Philips Pensioenfonds, you can choose when you want this pension to start. The amount of your pension depends on the various choices you make. Your choice must be known to Philips Pensioenfonds no later than 6 months before you wish to receive your pension. We are happy to help you make this choice.

Step 1: check your details in MijnPPF

MijnPPF is the secure web environment in which you can find your personal pension information. After you have logged in with your DigiD, go to 'Profile'. There you can view your details and those of your partner. Are your details incorrect? Then you can adjust some information yourself on your profile page.

Why do I have to check my details?

The correct information is important, because the pension amounts in the Pension Planner can change as a result. Be sure to check that your partner's details are correct. Only then will your partner receive a survivor's pension after your death.

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Are the partner details incorrect? Inform us of the changes using the 'Partner registration' form.

Form Partner registration

Step 2: calculate the consequences of your choices in the Pension Planner

You can also find the Pension Planner in MijnPPF. The Pension Planner shows your salary, your pension income and the AOW pension from the government graphically. As long as you have not yet chosen a retirement age, the Pension Planner assumes the standard retirement age of 68 years. In addition, some other default choices are assumed. You can now adjust the standard choices yourself and calculate the financial consequences this will have for your pension. This will give you a good idea of your possible pension situation. You can choose your retirement age based on this.

MijnPPF: Pension Planner

With the Pension Planner in MijnPPF you can calculate certain pension choices.

Go to MijnPPF
Retirement age

In the Pension Planner you can see what consequences certain starting ages have for your pension. Would you like your pension to start before the age of 68? Then your pension will be lower. You stop working earlier and therefore accrue pension for less time. Moreover, you will receive your pension earlier and therefore longer. If you retire later, your pension will actually be higher. You cannot record your choice of retirement date via the Pension Planner. You can read how to do this in step 4.

Part-time retirement

Would you like to work less in the run-up to your retirement date? Then part-time retirement is a possibility. You will then work less and will receive part of your pension for the other hours. The pension accrual continues for the percentage that you continue to work. You make agreements with your manager about the working hours during the period of part-time retirement. These agreements are recorded in an agreement. You cannot calculate the consequences of part-time retirement in the Pension Planner. There are various schemes in which you can work less while retaining pension accrual. You can read more about this in your CLA.

You can also calculate your choices regarding the survivor's pension, bridging pension and the high / low arrangement in the Pension Planner.

Go to Pension Planner in MijnPPF

Step 3: Provide your retirement age

You do not have to make the choice of your retirement age immediately. You must report your retirement age no later than six months before you wish to start your pension. For example, would you like to retire when you are 63.5 years old? Then you must report this before you turn 63. Would you like to retire between the ages of 67 and 70? This is only possible if your employer agrees.

Report retirement age

Do you know when you want to retire? Then coordinate this with your manager. At Philips, your supervisor ensures that your chosen age is recorded. Do you work at Signify? Then, after consultation with your manager, you determine your chosen retirement age yourself via HR Services.

Philips or Signify will send a copy of the agreement to Philips Pensioenfonds. You do not have to inform the Pension Fund yourself. You will then receive written confirmation that we have recorded your choice.

Please note: once you have chosen your retirement age, you can no longer change it.

Step 4: make choices about your income

Have you chosen your retirement date? Then go to the Pension Planner in MijnPPF six months before your chosen retirement date. At that time you can enter your definitive pension choices in the Pension Planner:

The Pension Planner takes you step by step through the various choices you have. Have you made your choices? Then you finalize your pension application by printing, signing and returning the summary of your choices. Your pension application will then be processed and your choices will only be finalized.

Pension choices 6 months before retirement

Related information

Is the information below perhaps also interesting for you?

Indexation policy

We try to increase your pension every year with wage inflation. This is called "indexation". Would you like to know more about this?

Go to indexation policy

Mijnpensioenoverzicht.nl

This website gives you insight into your total pension situation. There you will also see the pension that you may have accrued with other employers.

Go to Mijnpensioenoverzicht.nl