Retirement pension
Via Philips, Signify or Versuni you participate in the flex pension of Philips Pensioenfonds and you accrue a retirement pension. The reference retirement age is 68 years, but you can choose your own retirement age. Your retirement pension supplements the state pension (AOW), which you receive from the government when you reach the AOW retirement age.
How much pension you receive from Philips Pensioenfonds depends mainly on the level of the salary that you earned, the content of the pension plan in which you participated and the number of years that you participated. The retirement pension is paid monthly from your retirement age for as long as you live. The level of the retirement pension is stated on the Pension Planner, your Uniform Pension Overview and at www.mijnpensioenoverzicht.nl
The pension plan in which you participate is a defined-benefit plan. Each year you accrue pension on part of the gross salary that you earned in that year. You do not accrue pension on your whole gross salary, because your pension administrator takes into account the AOW, which you receive from the government when you reach the AOW retirement age. The portion of your salary on which you do not accrue pension benefits is called the ‘franchise’. Each year you accrue 1.85% retirement pension on the gross salary minus the franchise. The accrual rate of 1.85% can even be lower under certain circumstances.
Important!
The flex pension provides for pension accrual on an income up to € 137,800. If you earn more, you can save for extra pension via the voluntary net pension plan with Centraal Beheer PPI. To find out more about this, contact Centraal Beheer PPI via centraalbeheerppi@achmea.nl or via phone number 020 - 591 4242.
Example
Let us suppose that you earn € 25,000 per year. The franchise is € 15,000. In that year you accrue 1.85% retirement pension on the pension base of € 10,000. That is € 185 in that year. The retirement pension that you receive annually on retirement is the sum of all the years plus any increase (indexation).