Value transfer
If you have changed jobs and now fall under a new pension plan at a new employer, the value of the annual pension that you have accrued determines what will happen with your pension.
Is your accrued annual pension higher than €613.52 per year? Then you decide whether to transfer your pension to Philips Pension Fund. We call this a value transfer. This can be beneficial if, for instance, your new employer has a better pension scheme. Or maybe you want all your pensions with one pension administrator. You can transfer your pension to the Philips Pension Fund via www.mijnwaardeoverdracht.nl or by submitting the value transfer form. Be well informed about this in advance. Whether value transfer is a good choice depends among other things on the differences in the pension schemes and the financial situation of your previous pension administrator and the Philips Pension Fund. Do you not want to take your pension with you? Then your pension will remain with your previous pension administrator. You will receive it when you retire. You will no longer pay contributions to your previous pension administrator and will continue to accrue pension at the Philips Pension Fund. Look here for more information on value transfer. Would you like help making your choice? We will be happy to help you.
If the annual pension that you have accrued has a value of less than € 613.52, but more than € 2, ask your previous pension administrator what the arrangements are for value transfers with small pensions. If you changed jobs after 1 January 2018, your previous pension administrator might automatically arrange for your pension to carry over to Philips Pensioenfonds. If so, your previous pension administrator will check www.mijnpensioenoverzicht.nl every year to see whether you are accruing a pension with a new pension administrator. You will not need to state a preference. If you have the option of deciding for yourself, and you want to carry over your small pension, let Philips Pensioenfonds know your preference.
Is the value of the annual pension that you have accrued less than € 2? Then your pension rights will lapse by law. Read our annual report to find out what we do with the amounts that are released under this rule.
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