How do you accrue pension?

ouderdomspensioen_67

You accrue pension in three ways:

A. Via the government. You will receive AOW [Algemene Ouderdomswet - General Old Age Pensions Act] from the government if you live or work in the Netherlands. You can read more about the AOW on SVB.nl.

B. Via your employer, Unilever:

  • Over your salary up to € 105,075, you accrue gross pension with Forward.
  •  Over the part of your salary above € 105,075, you can accrue net pension with the UPP. This is what this Pension 1-2-3 is for.

C. That which you arrange yourself. With an annuity plan or bank savings for example.

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Average pay

If you participate in the net pension saving scheme, you will pay a monthly premium. These premiums are invested on your behalf and form a pension capital. With this capital you will buy a net retirement pension on your retirement date and possibly a partner pension. This type of pension scheme is referred to as a defined contribution scheme.

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With net pension schemes, you do not pay tax on the pension benefits. This is balanced by the fact that the premiums you pay for this scheme are not tax deductible. The capital you save in the UPP scheme is exempt from the so-called Box 3 tax (investment yield tax) in the Netherlands.

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reglement

 

You will pay the premiums for the net pension schemes with the UPP and elipsLife on a monthly basis via your net salary. You will find these premiums listed on your payslip.

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