What happens to your contribution
Your contributions are used for different purposes within the pension plan:
Purpose 1: Contributions to your personal pension capital
Most of your contribution is paid into your personal pension capital. This pension capital is used to provide your old-age pension and, if applicable, a partner's pension in the event of your death after your pension has started.
When you retire, you decide how your personal pension capital will be used. You can choose:
an old-age pension only; or
an old-age pension combined with a partner's pension payable if you die after your pension has started.
If you wish to choose an old-age pension only and you have a partner, your partner must also sign your pension application.
Please note: this choice cannot be reversed.
Purpose 2: Costs
Part of the contribution is used to build up a provision for costs.
The purpose of this provision is to ensure that the pension fund can meet its future administration and operating costs at all times.
Purpose 3: Contributions for pension cover in the event of death
Part of the contribution is used to provide partner's pension and orphan's pension cover if you die while:
employed by HEINEKEN;
receiving unemployment benefits (WW); or
ill or disabled.
For more information, see the pages partner's pension and orphan's pension.
Please note: cover for partner's pension and orphan's pension ends three months after your employment ends or after your unemployment or sickness benefits stop.
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