Information package
Read the information about your retirement income
Six months before your retirement date, you will receive a letter with information about applying for your pension. This letter explains how you can make choices in the Pension Planner on MijnPPF. You make your choices final by printing and signing the printout of your choices in the Pension Planner. You will also find a number of forms in the information package. You must return these forms to us together with the printout. We can then award your pension and you will receive your first pension payment.
What happens before you receive your first pension?
You must go through a number of steps before your pension is actually paid out. Here you can read about the five steps:
- You make your own choices
You can make various choices that affect the amount of your pension. You can do that yourself via the Pension Planner on MijnPPF. - Philips Pensioenfonds calculates your pension
Complete the forms included in the 'Almost retired' information package and send them to us. When we have received the forms, we calculate the amount of your pension. - You receive an up-to-date pension overview
At the latest one month before your retirement date you will receive a current 'Overview of pension income'. The choices you have made are incorporated in this. - You receive your pension specification
You will receive a pension specification just before your first pension payment. You can compare the specification with your salary slip. It says:- what your gross pension is;
- what is withheld from your gross pension;
- what you receive net.
- You receive your first pension payment
We pay your pension in advance on the first working day of the month. The moment at which your pension is credited to your account differs per bank. Look here for the 'Payment dates'. Or look in our magazine Generaties.
What is withheld from your pension?
Up to your retirement date you will only receive information about the amount of your gross pension. You will receive your net pension from the retirement date. This means that Philips Pensioenfonds deducts a number of amounts from your pension. View the deductions.
More information about the payment of your pension
We pay your pension in advance on the first working day of the month. The moment at which your pension is credited to your account differs per bank. Look here for the 'Payment dates'. Or look in our magazine Generaties.
Pension specification: every month in MijnPPF
You receive a payslip or salary specification of your salary every month. You also receive a specification every month in MijnPPF. You will only receive a specification notification if your net pension deviates from the previous month. This happens if the pension is more than € 0.01 higher or lower.
Holiday pay
As a pensioner you will not receive a separate holiday allowance. Your holiday pay is included in your monthly pension income.
How does your pension keep its value?
Philips Pensioenfonds tries to increase your pension every year. Read more about our 'Indexation policy'.
Related information
Is the information below perhaps also interesting for you?
Bridging pension
Will you retire before your AOW-age? Then the flex pension can also provide a bridging pension.
Go to bridging pension
High-low arrangement
If you opt for the high-low arrangement, you will first have more and later less pension income. With the high-low arrangement you can influence the amount of your pension in a certain period.
Go to high-low arrangement