“No: you will not have the option of making your own investment decisions. Under the NexT Pension scheme, we will invest your pension capital together with that of our other members. The investments will be collective, just as they are now.

Your new pension scheme is a solidarity defined contribution plan: it does not include an option for individual investment decisions, and instead Philips Pensioenfonds will determine how the pension capital is invested. This will be based on our investment policy, making allowance for our members’ age. The investment risks will be higher for younger members, who have a long time until they retire. As the member grows older and comes closer to retirement, we will gradually reduce the level of risk. When we drafted our investment policy, we also considered our members’ preferences. In the 'Future of pensions & risk' survey, we asked members what they felt was a safe and comfortable level of risk. Their feedback is reflected in our policy.”