| Considering a range of different scenarios |
When the Dutch House of Representatives passed the bill for the Dutch Future of Pensions Act in late-2022, this brought the introduction of the new pension rules another step closer. The debate on the legislation has generated large amounts of publicity, with arguments being presented both for and against the new system. We can imagine that our members also have questions, and I would like to take this opportunity to share an update of where we stand in relation to the Future of Pensions Act.
Essentially, we are working on a range of different scenarios and identifying how they would affect our members. We intend to use these preparations to help us make the right decisions further down the road, to ensure a balanced impact on the various groups of members of Philips Pensioenfonds. However, you will not notice any effect of the new pension rules for a while yet: the employers whose pension plans we handle hope to have a new pension plan in place by 1 July 2026. Read on to find out more about what we are preparing behind the scenes.
Jasper Kemme
Managing Director
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| Give your input on how we should communicate about the Future of Pensions Acts |
We want to make sure that you understand right from the very start what your pension will be in the future, and what the various possibilities are. With this in mind, we are already preparing for how we can best communicate with you.
We would love to learn your thoughts on:
- how you prefer to receive information;
- what information is relevant for you, and when;
- designs for overviews, dashboards and visuals.
Let us know if you would like to share your input. |
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| What is a prudent indexation rate? |
In the current extraordinary circumstances, the Board of Trustees needs to find the right balance between indexing the pensions of Philips Pensioenfonds and protecting its financial buffer. As the Chair of the Board explains, “The Board believes that every member should get off to a strong start under the new pension system, and that differences between the various groups of members must be minimal, fair and justifiable.”
Every year from 2023 forward, the Board will establish what the maximum prudent rate is for increasing your pension. Shortly before our regular indexation moment on 1 April, every member will receive personalised information explaining the decision for 2023. |
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| Results for Q4 2022: policy funding ratio at 128,8% |
| Visit our website to find out more about our Q4 results. |
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| Did you know... |
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- we use three factors to calculate your annual pension accrual: your gross salary, a threshold that is deducted (the 'offset'), and the percentage of the accrual rate?
- for this year, we have raised the accrual rate to the targeted rate of 1.85% as per our ambition?
- the offset has also been increased, meaning that the portion of your salary on which you accrue pension has gone down?
- the maximum salary on which your pension accrual is based under the Flex pension plan for 2023 has been raised significantly?
- as a result of these changes, in 2023 most of our members will accrue more pension than they did in 2022?
Check MijnPPF to find out what this means in your specific situation. |
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| "What happens if my employment ends?" |
| — FAQ submitted by Kaj of the Service Desk — |
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| Check your Pension Overview and share your new e-mail address |
| If your employment ends, your pension accrual with Philips Pensioenfonds will stop. You will receive a statement of how much pension you have accrued for yourself and your partner. You will still be able to use MijnPPF after your employment ends, for example to check your Annual Pension Overview. Remember to register your private e-mail address on the Profile page in MijnPPF, so that we can continue to keep you updated by sending you this newsletter. |
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| If you are retired |
| This newsletter is intended for members of Philips Pensioenfonds who have not yet retired. Visit our website for the Dutch version of this newsletter and the newsletter intended for pension beneficiaries. |
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| What do you think of this newsletter? |
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