Paid-up continuation of pension accrual in the event of disability
If your employment with Philips or Signify is terminated due to disability (incapacity/unfitness for work), you are entitled to continued pension accrual without having to pay a premium (contribution). You do not have to do anything yourself, your employer informs us if you (partially) leave employment due to incapacity for work. The paid-up pension accrual depends on the degree of disability. If you are partially disabled, then continuation of pension accrual is also partial, i.e. no contribution is payable for that part.
For as long as you are disabled you continue to accrue pension benefits until you reach the age of 68, unless you reach the AOW retirement age before that time, in which case pension accrual stops then. Paid-up continuation of pension accrual applies not only to your retirement pension but also to the survivor’s pension. Furthermore you remain insured for the orphan’s pension.
Important!
In the event of disability you continue under the Philips flex pension to accrue pension benefits on your income up to € 137.800 without having to pay a contribution any more. If you earn more than € 137.800, your employer has taken out insurance for you with Centraal Beheer PPI. To find out more about this insurance, please contact Centraal Beheer PPI via centraalbeheerppi@achmea.nl or via phone number 020 - 591 4242.
In addition, you are entitled to a disability pension. This supplements the statutory WIA benefit. You are automatically insured for this disability pension. The level of the disability pension depends on the degree of disability and the level of your salary before you became unfit for work. The benefits agency UWV determines what your disability percentage is.
To be eligible for the full disability pension, you have to be at least 80% disabled (based on the norms of the WIA – Work and Income (Capacity for Labor) Act). Different percentages apply to partial disability. More information and examples of calculations can be found on our website.
You will receive the disability pension from 3 years after the first day of illness.
Important!
If the disability percentage changes, you must notify Philips Pensioenfonds as quickly as possible.