You and your employer both contribute toward your pension
Every month, you and your employer pay a pension premium (contribution). These premiums effectively represent the price of your pension. Your employer contributes fixed percentages of the pension bases from which the pension plans are paid. The total fixed percentages contributed are:
- For the flex pension (under the collective labour agreement): 29.4%
- For the flex ES pension (for Executives and Senior Directors): 30.3%
These premiums will remain unchanged up to and including 2024. They include the employee’s own contributions. Philips and Versuni employees pay 2% of the pension base to the employer. Signify employees who fall under the Flex scheme pay 5% of the pension base to the employer. Signify employees who fall under the Flex-ES scheme pay 2% of the pension base to the employer. The pension base is the portion of your salary, with a maximum of € 137,800, on which you accrue pension rights.
Every month, your employer pays the pension premiums to Philips Pensioenfonds. Your employer withholds your contribution to the pension premiums from your gross monthly wages. The precise amount is shown on your salary statement. The premiums that your employer pays do not appear on your salary statement.