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Pension123 Layer 2 Retirement pension

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You will receive this pension from your retirement date for as long as you live

Through your employer IFF, you participate in our pension scheme and you accrue retirement pension. Normally you will receive this retirement pension when you reach the age of 67 years. You can also take your retirement pension earlier, however not before you reach the age of 55 years. You can also take it later, up to 5 years after you reach the age of entitlement to state retirement pension (AOW).

How much pension you will receive from us mainly depends on the amount of salary you have earned and the number of years you have been a member. You receive retirement pension for as long as you live.

You can see how much retirement pension you have accrued if you log in to My Pension. This is also shown on your Uniform Pension Statement (UPO).

The pension scheme in which you are a member is a defined benefit agreement. Each year, you accrue pension on a part of your salary up to € 66,261 (in 2021) that you have earned in that year. You do not accrue pension on your whole salary. Your pension administrator takes account of the AOW you will receive from the government when you reach your AOW age. The part of your salary on which you do not accrue pension is known as the state pension offset. You accrue retirement pension at the annual rate of 1.875% of your salary less the state pension offset.

If you have accrued pension at more than one employer, you can see all the pension you have accrued at www.mijnpensioenoverzicht.nl.

Frequently Asked Questions

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. If you have worked part time for some periods during your employment, for example 50% for a number of years and 100% thereafter, we calculate the amount of your pension on the basis of your average part-time percentage over your entire career at IFF.

You accrue pension annually. In this calculation account is taken of your part-time percentage in a year, if applicable. If your part-time percentage changes during a year, your pension will be based on the average part-time percentage in that year. Your retirement pension is the sum of all the pieces of pension you have accrued annually.

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