Pension 123 Layer 1

How do you accrue a pension?

You accrue pension in three ways

You accrue pension in three ways:

A. AOW: this is the pension you receive from the government. Further information on the AOW is available at

B. Pension with the IFF Pension Fund. You are accruing this pension through your employer IFF. This is the pension we are discussing in this Pension 1-2-3.

C. Pension that you arrange personally, such as an annuity or bank savings.

Average salary scheme

You accrue a piece of your pension each year. The pension you accrue is the sum of all these pieces. You receive this pension from your retirement date for as long as you live. This is known as an average salary scheme.

Accrual percentage

You accrue a part of your final pension each year, but not on your whole salary. In 2022, you will not accrue pension on € 19.599,- because you will receive AOW pension from the government when you reach the age of entitlement to AOW. You accrue pension at the annual rate of 1.875% of your salary up to € 68.938,- (2022) less the state pension offset.


You pay a contribution for your pension each month. Your employer does the same. In our pension fund, you and your employer pay the contribution together. The contribution you pay is shown on your salary statement.