Each year you accrue a part of your pension. The total pension that you will receive as from your retirement date for as long as you live, is the sum of all the parts you accrue every year. For this purpose, a contribution is set and paid annually. If this contribution (the 'defined' contribution) is insufficient in a year, you accrue less pension that year. At Forward, chances are small that this will occur as we re-establish the contribution each year. This type of pension scheme is called a Collective Defined Contribution (CDC) scheme.

The CDC scheme at Forward is a collective pension scheme; you share the risks with all your Unilever colleagues in the Netherlands. This is different from an ‘ordinary’ defined contribution scheme, where as an individual you have a personal pension pot in respect of which you run all the risks.

In the Pension Rules of Forward (only available in Dutch) you can read exactly what this scheme entails.

> Return to layer 1