Through your employer Staples, you participate in the pension scheme of the Staples Pension Fund and you accrued retirement pension until july 2018. Normally you will receive this retirement pension when you reach the age of 67 years. Your retirement pension is in addition to the state retirement pension, or AOW. AOW is the pension you receive from the government when you reach the age at which you are entitled to AOW.
How much pension you will receive from the Staples Pension Fund mainly depends on the amount of salary you have earned, the content of the pension scheme in which you are a member and the number of years you have been a member. Your retirement pension will be paid monthly from your 67th birthday for as long as you live. The amount of your retirement pension is shown on your Uniform Pension Statement (UPO) and can be found at www.mijnpensioenoverzicht.nl and My pension.
The pension scheme in which you are a member is a defined benefit agreement. Each year, you accrued pension on a part of your salary up to € 82,700 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 1.738% of your salary less the state pension offset.
Assume you earn € 25,000 in a particular year on a fulltime basis. The state pension offset in that year is € 15,000. Your pension base is therefore € 10,000. In that year, you will accrue 1.738% in retirement pension on the pension base of € 10,000. This will be € 174 in that year. The retirement pension you receive when you retire is the sum of all service years plus indexation if applicable.