On 30 May 2023, the Senate approved the Future Pensions Act. What awaits you now? When will you hear what the new pension rules mean for you personally and how will we keep you informed? In the coming years, this page will be the central place where you will find the answers to those questions. Even though it is not yet known exactly what the scheme at Philips Pensioenfonds will look like, you will find a lot of information here about what you can expect.
Information about the new pension rules
The new pension scheme is expected to apply to participants of Philips Pensioenfonds from 1 January 2027. Only shortly before the introduction, it will become clear what the new scheme means for your personal situation. Before that happens, we will keep you informed of the expected timelines and what we already know about the scheme. We do this, among other things, with the questions and answers on this page. But we also work on articles and videos in which we always highlight a theme of the new pension rules and you'll find a roadmap with the most important landmarks in the decisionmaking and communication. We will also keep you informed via our digital newsletter Gener@ties and our magazine Generaties.
Current situation of future pension scheme
Philips and the unions have agreed on the details of the future pension plan, and recorded them in a transition plan. The type of pension plan chosen is a solidarity-based contribution plan. If everything proceeds according to schedule, Philips Pensioenfonds will carry out the new pension plan from 1 January 2027 for all the pension fund’s active members, pension beneficiaries and policyholders: the new pension plan will impact everyone, whatever their situation. The solidarity-based contribution plan is a form of pension designed by the legislature to make pensions more personal, with every member having their own pension savings, combined with a collective financial reserve to offer protection against financial setbacks.
It will be another two years or so before the new pension plan will come into effect, but even though that is far away, we are not sitting still now. Read this article to find out everything that needs to be done for us to be able to carry out your new pension plan.
Changes in pension
What is the reason for new pension rules? What are the highlights of the new pension scheme? And how do we make sure that every one of our members can get off to a good start under the new pension plan?
Read more
News and blogs
We will keep you update on the latest developments with newsarticles and blogs.
News section
Frequently Asked Questions
Find out more about the question “Can my personal capital run out?” and more frequently asked questions from members.
More FAQs
Members panel
We regularly ask members to provide us with feedback on our latest design, concepts and communication. You do not need specific knowledge about pensions to join.
Join our panelVideos: Philips Pensioenfonds explains
Recently, we have received many questions about the new pension system. On the FAQpage, we answer all kinds of questions about the new pension law, including contracts, timelines and compensation.
Questions & Answers"How will pension accrual work under the new rules?"
Although much will stay the same, you should also expect some important changes. Members will build up personal pension savings, for example, and the investment policy will be linked to age. Watch the video for an explanation by Anita Joosten, our Director of Investments, of how the new pension rules will affect active members.
Attention! This is a video with English subtitles. You may need to turn on subtitles via the cc-button at the bottom of the screen.
"What does a solidarity defined contribution plan mean?"
The purpose of the new solidarity defined contribution plan is for members to have a personal pension, with protection in case of financial setbacks. In this plan there are some new elements, however not everything will change. So, what will stay the same, and what will be different? Watch the video for an explanation by actuary Pieter Vromen.
Attention! This is a video with English subtitles. You may need to turn on subtitles via the cc-button at the bottom of the screen.
“In the new pension act: will my pension change every month?"
No, your pension will not change every month. Your pension will be adjusted once a year. What will fluctuate every month is your personal pension capital. In this video, Director of Investments Anita Joosten explains how this works.
Attention! This is a video with English subtitles. You may need to turn on subtitles via the cc-button at the bottom of the screen.
“Can my personal capital run out?"
A frequently asked question from our members. This is a firm no. Even under the new system, you will still have a pension for as long as you live. You do not need to worry that you will not have any money left for your pension. Watch the video for an explanation by our Pensions Director Mike Pernot of how this works. In response to this video we received a question about survivor's pension. You will find the answer on our FAQ page.
Attention! This is a video with English subtitles. You may need to turn on subtitles via the cc-button at the bottom of the screen.
What will happen in the near future?
A pension is an employment condition, which means that employers, together with the trade unions, are the first to make pension choices. Philips Pensioenfonds supports them in this and tests the feasibility of the new pension plan.
Now that Parliament has adopted the Future of Pensions Act, we are gradually helping you to prepare for the changes that the pension system will undergo. You will be receiving information from the government and your employer as well. Together with the employers, we have put together a timeline to show what we are doing in the run-up to the new pension plan, and what to expect from us during each phase. Click the image to find out more about the information you will receive over the next few years.
Latest news
We will keep you update on the latest developments with newsarticles and blogs.
- News: Switch to new pension plan scheduled for 1 January 2027
- Blog: What needs to be done for us to be able to carry out your new pension plan?
- Blog: A personal pension with solidarity
- News: Philips Pensioenfonds to administer a solidarity-based contribution plan starting in 2026
- Blog: Roadmap to your new pension
- Blog: Considering a range of different scenarios
- News: Flashwebinar 'new rules for pensions'
New rules for pension - webinar
As a result of the new Future Pensions Act, pensions in the Netherlands will look different. For example, all participants in pension funds receive their own 'pension pot' from which their pension is paid. And pensions, more than they do now, will move along with the waves of the economy. So there will be changes, but a number of things will remain the same: for example, income will also be arranged for after your retirement, in the event of incapacity for work and for any surviving relatives after your death.
On 21 November 2022 our Pensions Director - Mike Pernot - shared some information about the new pension rules. What will change, what will stay the same? And how will this affect you? You can watch the recording of the webinar here. It is no longer possible to ask questions directly. Many questions were asked during the flash webinar, which we have collected for you.
To questions and answersA good start under the new pension plan
How do we make sure that every one of our members can get off to a good start under the new pension plan that will come into effect on 1 January 2027? That is the question that the Board of Trustees recently answered. Of course we want to index our pensions by the full rate, if at all possible. However, we also need to maintain a proper buffer for when we switch to the new pension plan on 1 January 2027. For 2024, we have decided that we can index your pension by the full rate. By making use of more lenient legal rules for indexation, we can grant you this indexation.
In the bridging plan you can read why applying the more lenient indexation rules is a sensible decision given the pension fund’s finances, and how it will affect our members in the different age categories.
What do our participants think?
Did you know that 3 out of 10 active members do not know that a new pension system is coming? During our last annual participant survey, we asked members to share about their confidence in the new system. We consider the interest of all of our participants and constantly inform you about the developments. If you have any questions, do not hesitate to contact us. In addition, we ask for feedback on our communication and designs for the Pension Portal of the future.
Faith in the new pension system:
Active member: “I understand that change is needed and I also feel uncertainty about the fact that benefit will become more flexible. I am confident that pension funds are well aware of this and take the necessary precautions."
Retired member: "It seems to be a realistic method, which is also used abroad. With the previous change to FLEX pension, things have also improved, let's hope that this will also be the case concerning the new pension system."
Suspicion of the new system:
Active member: “In this new system, I might have less money when I need it most, and the media and peer reports are not positive."
Retired member: ""It's unfair to change the rules for people who already receive a pension. I can't take any additional measures now and I have little faith in the government."
Related information
The information below might also be interesting for you
Pensioen duidelijkheid (clarity about pensions)
An online platform created by the Ministry of Social Affairs and Employment with information about what the new rules entail.
Visit pensioenduidelijkheid.nl (Dutch only)
Overview news items
The annual increase in pensions must be sensible given that we want to transition to the new pension system on 1 January 2027 in good financial health. In the annual indexation decision, the Board explains how this assessment is made.
Overview indexation news