Transition plan for each employer
The social partners* have made agreements about the new pension plan of Philips Pensioenfonds. In May 2024 it was already announced that the so-called solidarity-based contribution plan had been chosen. All agreements about the new pension plan have now been included in the ‘transition plan’. In this plan, the social partners explain why certain choices were made and which considerations (advantages and disadvantages) were taken into account. They also explain how the pensions already accrued will be dealt with. In December 2024, all employers for whom Philips Pensioenfonds administers the pension plan will have finalised their transition plan.
Addendum to the transition plan
In March 2026, the social partners adopted an addendum to the transition plan to clarify and supplement what was set out in the transition plan of December 2024. The reason for this addendum was the development of new insights arising from recent discussions between Philips Pensioenfonds and De Nederlandsche Bank (DNB), further clarification of legislation and regulations, and the increase in interest rates and the funding ratio of Philips Pensioenfonds since 31 December 2023, the calculation date used in the transition plan.
The addendum has been incorporated into the versions of the transition plan below; you will find it at the end of the document.
*The social partners are the employers' and employees' organisations. At Philips and Signify, agreements have been made with the trade unions for for employees to whom the collective labor agreement applies and with the Central Works Council for the Flex-ES scheme. At Versuni, the Works Council was involved in the agreements on the pension plan.
On this page you will find the transition plans (in Dutch) of the employers for whom Philips Pensioenfonds administers the pension plan. This also includes the transition plan of Philips Pensioenfonds as an employer. This plan applies to participants who are (of have been) employed at the Pension Fund Office of Philips Pensioenfonds and are employed by the Pension Fund. Each transition plan includes a summary in English in which you can read what the agreements mean in general. You can also read the most frequently asked questions and answers about the transition plan at the bottom of this page.
Good to know: the documents below include the addendum adopted by the social partners in March 2026 as a supplement to the transition plan; see also the explanation above.
Philips
Here you will find the transition plan for participants who are (or have been) employed at Philips.
Go to the transition plan
Signify
Here you will find the transition plan for participants who are (or have been) employed at Signify.
Go to the transition plan
Versuni
Here you will find the transition plan for participants who are (or have been) employed at Versuni.
Go to the transition plan
Philips Pensioenfonds
Here you will find the transition plan for participants who are (or have been) employed at the Pension Fund Office of Philips Pensioenfonds.
Go to the transition planQuestions and answers
Here you will find questions and answers about the transition plan.
The transition plan not only contains the agreements on the new pension plan, but also indicates how the accrued pensions will be dealt with and how the assets of the Pension Fund should be distributed in the opinion of the social partners. In the transition plan, the social partners also explain which calculations and considerations underlie the choices they make. The transition plan answers the following questions, among others: What will happen to the accrued pensions? How will the existing buffers be distributed? What are the effects of the transition for the retirement and survivors' pensions for the various participant groups? And why is the transition to the new pension scheme balanced?
Agreements have also been laid down on compensating certain groups of active members for the disadvantage they would suffer if they switched to the new pension scheme without compensation. This is due to the fact that the new pension scheme has a different premium system.
A pension is an employment benefit. This means that designing the new pension plan is principally a task for the social partners. However, the decisions that those social partners make also affect the pension beneficiaries and non-contributory policyholders, for example what to do with the pensions that they have accrued and what type of contract is chosen. Although they do not have a say in the negotiations, their interests must be included in the arrangements between the social partners: the law dictates that the switch to the new pension plan must be ‘balanced’ for all our members.
The law stipulates that the voice of the pension beneficiaries is included in the decision-making process of the social partners via the statutory ‘right to be heard’ of a pensioners’ association that represents a substantial part of the pensioners. The Federatie van Philips Verenigingen van Gepensioneerden (FPVG, the federation of associations of Philips retirees) meets this condition at the Philips company. The FPVG was involved in the decision-making process at Philips* and gave an opinion on behalf of the pension recipients on the agreements in the (draft) transition plan. This assessment has been included in the transition plan and the social partners provided feedback on what has been done with the input from the FPVG. This input has led to adjustments to the transition plan on a number of points.
* The employers Signify, Versuni and Philips Pensioenfonds have not had separate consultations with the FPVG in the context of the right to be heard. It is also questionable whether this was necessary, because it is far from certain that the FPVG is also a pensioners' association that meets the aforementioned statutory requirement for the employers Signify, Versuni and Philips Pensioenfonds and whether the FPVG therefore also has a statutory right to be heard for these employers. Whatever the case, the FPVG has not invoked the statutory right to be heard for these other employers. Furthermore, these other employers assume that the interests of the pension recipients of these employers have been indirectly taken into account via the FPVG's right to be heard with Philips. After all, they are all pension beneficiaries of Philips Pensioenfonds and the agreements in the transition plans of Signify, Versuni and Philips Pensioenfonds are identical to those in Philips' transition plan on all points relevant to pension recipients.
The solidarity-based contribution plan is a form of pension designed by the legislature to make pensions more personal, with every member having their personal pension capital, combined with a collective financial reserve to offer protection against financial setbacks: the solidarity reserve. Precisely what impact this has on your personal pension situation will be explained shortly before we make the switch to the new pension plan, in the autumn of 2026. Before then, we will of course share more information about how things will change financially in general terms under the new pension plan. Follow our Gener@ties newsletter and our Generaties magazine for this.
You can always ask us your questions about the new pension scheme. Here you will find the contact details of our Service Desk.