We expect to switch to the new pension scheme on January 1, 2026. The new pension scheme is a solidarity-based contribution scheme. This means that you have a pension capital from which your final pension benefits are paid.

We explain the new scheme to you in parts. This time: investing.
Good to know: Investing always involves risks and the pension can be lower or higher as a result.

See also our other articles in which we explain the new pension scheme in parts.

In a nutshell: how does investing for retirement work now (current/old pension scheme)

We now invest in the same way for everyone and with the careful diversification into different types of investments around the world. Investing is necessary to be able to pay the pension in the future. Investing often yields a better return in the longer term than if the money for retirement were in a savings account. In addition, investing gives a greater chance of allowing pensions to grow in line with the rise in prices. The investment costs remain low because we invest together. In the current (old) pension scheme, you often don't notice the relationship between investing and their pension. Yet this does have an influence. Although this is not visible to everyone.

We will continue to invest in the new pension scheme.

In a nutshell: how will investing for retirement work in the new pension scheme

In this message you can read that you will receive a pension pot in the new pension scheme. On My Pension you will soon see how much is in your pension pot, your capital for pension. And you will soon see that your capital for pension moves with the results of the investments.

We are going to invest in a different way for each age group. If you are younger, we take more risks. As a result, the pension capital can go up and down considerably, but because your pension is still a long way off, you don't have to worry about that.

As you get older and your retirement gets closer, we reduce the amount of risk in investing. In this way, your pension capital is protected as your retirement approaches. And as a result, your expected pension benefit fluctuates less and less. This also means that the older you get, the more precisely we can estimate your pension benefit.

In 2026, we invite you to participate in the risk preference study. This is to determine what risk you are willing to take when it comes to investing in your pension scheme.

If you receive a pension

Even if you (soon) receive a pension, we will continue to invest your pension capital. We invest by age group. The older you get, the less risk we take with the investments for your pension. When you retire, we take little risk. In this way, we ensure that you receive the most stable pension possible.

Based on the returns achieved, the amount of your pension benefit is determined every year. We would prefer to avoid a reduction in pension benefits. That is why we have the solidarity reserve. The solidarity reserve protects pension benefits against decreases. In addition, we spread the investment results over three years to prevent as many large fluctuations in your benefit as possible.

Frequently Asked Questions:

1. How does the Heineken Pension Fund limit the risks of investing?

• We invest carefully for everyone. We do this in different types of investments around the world.

• We invest in a different way for each age group, as you have read above.

• We have a reserve, the solidarity reserve. This protects pension benefits against declines if the economy is not doing well. In good times, we replenish the solidarity reserve.

• We spread the consequences of the returns achieved over several years. If it is necessary to reduce pensions, it will not be done all at once.

2. How is the risk in the investments determined?

Everyone who has a pension with Heineken Pension Fund helps determine how much risk is taken with the investments. This is done through a survey. At least once every five years, we do that research, a risk preference study. The results of that research form the basis of our investment policy.

The last risk preference survey took place in 2023. A new study will follow when the new pension scheme has come into effect, which is expected to take effect in 2026. We will then re-examine how much risk you and the others with a pension with the fund are willing to take when investing for retirement.

It is important to participate in this survey, because it allows you to influence how we invest for your pension.

3. What were the results of the 2023 Investment Risk Survey?

The last survey took place in 2023. Your answers showed that young people are willing to take more risk with a chance of higher returns (such as with investing in shares). And that is also possible, because it will take a while for young people before they retire. Because the pension for young people is still a long way off, interim price declines can be absorbed.

Older people thought it was important that the pension benefit cannot be reduced (too much). So they didn't want to take too much risk. They depend on their own financial reserves to receive lower income. That is why we invest for the elderly with less risk. Taking less risk has the advantage of less chance of setbacks. The price is that the expected return is also lower.