Pension payments

You will receive your pension in 12 monthly installments. An overview of payment data can be found on our website and is always published in our Generations magazine. The moment of credit can be between morning and evening, we cannot specify the exact time. Philips Pensioenfonds offers the payment order to the bank and the time of credit depends entirely on the receiving bank. Pension not immediately available at the bank on the day of payment?

On public holidays within the European Union, an adjusted payment service applies to banks. Because 1 May is an official holiday for many countries in the European Union, an adjusted service also applies on that day. Payment orders are not processed on this day. 

We chose June 2026 as the moment of change because many pension recipients also receive a statutory benefit, such as the AOW (state pension). In May, the holiday allowance for statutory benefits is paid, which may make it easier to cope with the shift in the payment date from 1 June 1 to 23 June.

Many of our pension recipients receive, in addition to the pension from Philips Pensioenfonds, a statutory benefit such as AOW, Anw, or WIA. The new payment date better aligns with the payment of these statutory benefits, which usually take place around the 23rd day of the month. Additionally, it is more common in the market for income to be paid at the end of the month, as was the case with your salary when you were still working (and not on the first working day of the month as is currently the case with our pension).

The Nibud (National Institute for Budget Information) also advocates for income and allowances to be paid as much as possible at one time. According to Nibud, this helps people keep better track of their finances and prevents them from running into problems with fixed expenses.

If the 23rd of the month falls on a weekend or public holiday, the pension will be paid on the last working day before that date. So you do not have to worry about your pension arriving late; in these cases, it will actually be transferred a bit earlier.

To pay out pensions on time at the beginning of the month (as is currently the practice), we start preparations about a week in advance. If a pension recipient passes away during this period, the pension payment is often already on its way. In that case, we have to reclaim the pension from the survivors or heirs, because there is no longer a right to pension due to the death in the previous month. If we pay the pension on the 23rd day of the month (starting June 2026), a death usually falls within the same month as the payment. This means there is a right to the pension and it does not need to be reclaimed. We expect the number of repayments from survivors or heirs to decrease significantly as a result.

Unfortunately, we cannot completely prevent repayments, for example when a death notification from abroad arrives with a delay. But with this change, we are taking an important step towards a process that better considers the situation of survivors and heirs.

If you experience financial difficulties due to the shift in the payment date in June 2026, you can contact our Customer Service via info@philipspensioenfonds.nl or by calling 088 – 015 79 00. We will arrange a payment plan with you so that you can bridge this transition smoothly and do not run into problems with your fixed expenses due to the shift in the payment date.

Yes, the change in the payment date also applies to the survivor’s pension. For this as well, we have to reclaim pension every year from a large number of heirs of someone who receives a survivor’s pension. By shifting the payment date to the 23rd day of the month, a death more often falls in the same month as the last payment of the survivor’s pension, and recovery is usually not necessary.

This also applies to participants who, for example, receive a disability pension or an orphan’s pension. In fact, it applies to all types of pensions we pay out.

You are still entitled to the same pension, even if you receive it on the 23rd day of the month. The reason for the change is the undesirable repayments for survivor’s pension and heirs after death.

From June 2026, you will receive your pension on the 23rd day of the month. Therefore, check whether your automatic debits (such as rent, mortgage payments, insurance premiums, or subscription fees) still align with this new date. You can do this by:

• Logging into your bank and checking the scheduled direct debit dates.
• If necessary, contacting the relevant organizations to see if it is possible to adjust the direct debit date.
• Adjusting any transfers you have set up yourself so that they match the new payment date.
• Temporarily keeping a buffer in your account to ensure a smooth transition.

If you experience financial difficulties due to the shift in the payment date in June 2026, please contact our Service Desk. Together, we will arrange a payment plan so that you can bridge this transition smoothly and do not run into problems with your fixed expenses.

In June 2026, you will receive your pension 22 days later than usual, namely on the 23rd day instead of at the beginning of the month. To bridge this transition smoothly, you can:

• Plan ahead: Make sure to set aside some extra money in May to cover the longer period until the next pension payment.
• Check your fixed expenses: See if automatic debits (such as rent, mortgage payments, insurance premiums, or subscription fees) still align with the new payment date.
• Adjust direct debit dates if necessary and possible: Contact organizations that automatically debit your account to discuss the possibilities of shifting the date.
• Ask for help: If this causes you financial difficulties, please contact our Service Desk. Together, we will arrange a payment plan so that you can bridge this transition smoothly and do not run into problems with your fixed expenses.

This way, you can avoid running into problems and be well prepared for the change.