Pension contribution options in short
- If you accrue a pension with Philips Pensioenfonds, you pay a monthly contribution towards your pension through your employer. Your employer pays your contribution and the employer's contribution as pension premium to Philips Pensioenfonds. We add the total premium to your personal pension assets.
- Your salary statement shows the amount of your gross contribution. Your contribution is deducted from your taxable income, so your net contribution is less.
- The total premium that you and your employer will pay monthly for your pension under the new pension plan is approximately equal to the premium under the current pension plan.
- If your pensionable salary is higher than €87,500 (2025 level), you can contribute less premium on the portion of your salary above this threshold. You will then have a higher income now, but a lower pension later.
- Would you like to contribute more pension premium? That's also possible. You can contribute up to 4% of your pensionable salary (pensionable salary minus deductible). There's no salary limit for this, so you can choose to contribute more to your total pension base. While you'll have a lower income now, you'll receive a higher pension later. Any additional voluntary contribution will also reduce your taxable income now.
More information about pension contribution options
Every month you and your employer pay pension contributions. Your employer contributes a fixed percentage of your pensionable salary, which is added to your pension fund. The pensionable salary is the portion of your salary up to a maximum of €137,800 (2025 level) that counts towards pension accrual. The fixed contribution percentage for all pension accruers is 26%. This contribution includes your own contribution. Below, you can see the contribution amount for each employer.
| % of pensionable salary | |
| Philips: all employees |
8% |
| Signify: collective labor agreement employees |
5% |
| Signify: Executives en Senior Directors (joining the flex pension ES before 1 January 2025) |
2% |
| Signify: Executives en Senior Directors (joining the flex pension ES after 1 January 2025) |
5% |
| Versuni: all employees |
2% |
Your employer pays the pension premium to Philips Pensioenfonds every month. Your employer deducts your portion of the pension premium from your gross salary each month. The exact amount is stated on your payslip.
Lower pension premium = higher income now, lower pension later
Is your pensionable salary on a full-time basis higher than €87,500 (2025 level)? Then you can choose to reduce your pension premium by up to 8%-points on the pensionable salary above €87,500 (with a maximum of €137,800, 2025 level). If you will soon be participating in the new NexTPlus Pension, you can then reduce your pension premium on that part of your salary by up to 26%-points. By contributing less pension premium, you will have a higher income now, but a lower pension later.
Higher pension contributions = lower income now, higher pension later
Besides the option to reduce your pension contributions, you can also choose to contribute up to 4% of your pensionable salary in additional pension contributions. By contributing more pension contributions, you'll have a lower income now, but a higher pension later.
Calculating the consequences of a flexible choice
When the NexT Pension comes into effect, you'll have the option to calculate the consequences of a higher or lower pension contribution in the Pension Planner. You'll then know what the impact of contributing more, or less, on your expected pension will be.
Frequently asked questions about pension contribution options
Questions and answers
Employers and trade unions have agreed on a total premium contribution of 26% of the pensionable salary. This premium is added monthly to your personal pension assets.
The amount of this premium is comparable to the percentage used for pension accrual in the current plan. In addition to this 26%, the employer pays an additional contribution to insure the survivor's pension, finance the disability scheme, and contribute to the administration costs.
These additional contributions are also part of the total pension premium in the current plan (29.4% in the Flex collective labor agreement plan and 30.3% in the Flex ES plan). These additional costs are currently part of the fixed percentage; in the NexT Pension, they are paid separately (in addition to the 26% for the premium contribution) and are a variable component.
The amount of premium your employer contributes to your pension is determined in your employer's collective labor agreement. This is already the case and will remain the case in the new pension scheme. In the future, a lower or higher contribution can be agreed upon. The starting point in the agreements made about the new pension scheme is that the total premium remains unchanged. However, different agreements have been made per employer about the premium that you contribute as an employee. You can read here which premium applies to you.
In the new pension scheme, you can choose to pay (a maximum of) 4% of the pension base in additional pension premiums for additional pension accrual.
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