What amount will you receive from your disability pension?
The amount that Philips Pensioenfonds pays in disability pensions depends on the percentage of the disability and pre-disability salary. The employee insurance agency UWV establishes the percentage of your disability.
If you suffered a disability while you were employed, and were rendered 80% or more incapable of working, and for that reason are no longer working for Philips or Signify, your disability pension is 5% of your pensionable salary, up to a maximum of € 62,614 (value at 1 April 2022). That maximum value is the “disability ceiling amount”. If your pensionable salary is higher than that disability ceiling amount, you will receive 75% of your full, uncapped salary in excess of the ceiling amount. If your disability percentage is less than 80%, your disability pension will be lowered accordingly.
The disability pension is based on your salary as it was before the first day of your sick leave. Any collective scale adjustments that take place between the first day of illness and the commencement date of the disability pension are included. You will be paid your disability pension until you turn 68, if your disability continues until then. However, if you start drawing your state pension before you that, your disability pension payments will stop when you reach state retirement age.
The table below shows the benefits percentages corresponding to the various disability percentages:
|A disability percentage of:||Carries a benefits percentage of:|
|80 - 100%||100.0%|
|65 - 80%||72.5%|
|55 - 65%||60,0%|
|45 - 55%||50.0%|
|35 - 45%||40.0%|
|Less than 35%||zero|
When can you claim the disability pension?
You will be paid a disability pension if your disability renders you incapable of working and your employment contract ends after three years as a result. The pension is always paid out at the start of the month.
Please note: does your employment end earlier than 3 years after the first day of illness due to full disability? Then you will receive the disability pension from 3 years after the first day of illness.
Is the disability pension subject to annual adjustment?
Your disability pension is established when your employment contract ends. Philips Pensioenfonds seeks to raise its pensions annually to reflect the most recent derived consumer price index..
This index is established by Statistics Netherlands (CBS). The pension fund does not have an obligation to increase your pension, however: the Board of Trustees decides whether to raise the pensions, and if so by what percentage. Find out more about the indexation policy.
Some numerical examples of the calculations are shown below. The abbreviation 'DP' in the examples refers to 'disability pension'. The disability ceiling amount used here is € 62,614 which is the limit at 1 April 2022.
Full disability with a pensionable salary below the ceiling amount
Your pensionable salary is € 40,000 gross per year, you had a full-time contract (100%) and your disability has rendered you wholly incapable of working (100%). Your disability pension from Philips Pensioenfonds is:
5% * € 40,000 * 100% * 100% = € 2,000
Your total disability pension assuming full disability is € 2,000 gross per year
Full disability with a pensionable salary above the ceiling amount
Your pensionable salary is € 70,000 gross per year, you had a full-time contract (100%) and your disability has rendered you wholly incapable of working (100%). Your disability pension from Philips Pensioenfonds is:
5% * € 62,614 * 100% * 100% = € 3,130
75% * (€ 70,000 - € 62,614) * 100% * 100% = € 5,539
Your total disability pension assuming full disability is € 8,669 gross per year