| Members on the new pension system |
As our annual member survey last spring showed, more and more of our members are aware that a new pension system will be introduced soon. As you also probably know, Dutch Parliament recently passed the new pension legislation. The employers and trade unions are now in the process of arranging how to give shape to the new pension plan, and we will continue to work hard as we prepare for its introduction in mid-2026.
Communication with our members is one of the key points. Our goal is to provide you with all the latest information and explain what to expect during the near future. With this in mind, our web page for the new pension system has been updated to contain the latest news and an FAQ. We will shortly add a timeline with key decision-making and communication moments. We urge you to regularly check our website and read our newsletters to keep track of the latest developments.
In the meantime, I hope you have a wonderful summer!
Jasper Kemme
Managing Director |
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| Did you know...? |
You can see your Uniform Pension Overview in MijnPPF. It shows how much pension you had accrued by 1 January 2023. It also contains other information:
- An indication of how much pension you will have if you keep accruing
- How much you will receive if you become disabled and incapable of working
- What arrangements are in place for your partner and children in the event of your death
Tip: if you are living together without official status, check whether your partner is registered in MijnPPF. If not, they will not be entitled to a survivor’s pension in the event of your death. |
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| Results of our 2023 member survey |
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| Last April, more than 1,150 of our members shared their thoughts on our services. We want to thank everyone who took the time to complete the survey. Some findings that the survey revealed: 72% of our active members trust us to take proper care of their pensions. On average, they rated us 7.6 (out of 10). While this is a pleasing score, it still leaves plenty of room for improvement. For example, 32% of our active members are unaware of the new pension system, and more than 80% of you would like help making decisions about your pension. We will take this feedback on board during the period ahead. You can use the poll below to tell us how much help you prefer. |
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| "What is my retirement age?" |
| — A question that Ruben of our Service Desk is frequently asked — |
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| "You decide for yourself when you want tot retire!" |
| The best time for you to retire depends on your personal situation. You can use the Pension Planner to figure out when you should retire. For example, it shows how much pension you will receive if you start drawing it at a particular age. If you start drawing your pension before you turn 68, you will have less pension: you will no longer be accruing any pension during those years, plus what pension you have will be paid out for a longer time, because it will start at a younger age. If you retire later, your pension will be paid out over a shorter period, and so you will have more. If you want to start working less or retire before you reach state retirement age, you also have the option of retiring part-time, or drawing a bridging pension. If you prefer to retire after the age of 68, you will need your employer’s approval. |
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Care for investments
We monitor our investments not only for the returns that they yield, but also for social aspects. To do this, we gather information about companies that we invest in, to see if they could improve their efforts in terms of governance, human rights and the environment. If a company falls short on any of these aspects, we talk to them. This is known as ‘dialogue’ or ‘engagement’. Our website shows a list of:
- Companies that we do not invest in (exclusion)
- What dialogues we have held and how we voted at shareholder meetings of companies that we invest in
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| Introduction of lump sum pushed back again |
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| The entry into force of the legislation for withdrawing a ‘lump sum’ from your pension when you retire has been delayed again. The facility is now scheduled to be introduced on 1 July 2024. However, it is uncertain whether even that deadline will be met. The Dutch House of Representatives will debate the legislative proposal in September, and then it will also need to be passed by the Senate. We will keep you informed of any further news. |
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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 for the newsletter for members who are drawing a pension. |
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| What do you think of this newsletter? |
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