Pension scheme as of 1 January 2020

20 February 2020 | News

In consequence of the CAO (Collective Bargaining Agreement) consultation, as of 1 January 2020 a change will be made to the pension schemes with regard to one-off indexation compensation payments that were pensionable and the accrual of pension by partially occupationally disabled persons.

As of 1 January 2020, the one-off assessment CAO 1-7 and Eind RSP 16-25 allowance is no longer pensionable. Also, as of 1 January 2020, the regulations include the ruling that pension accrual during a period of occupational disability will not be adjusted.

Franchises and (fiscal) limits have been updated per 1 January 2020.

The most important alterations regarding franchises and limits are shown below:

– Pension franchise*: € 15,178 (2019: € 14,770)

– Contribution franchise**: € 14,171 (2019: € 13,790)

– Maximum pensionable salary on an annual basis: € 110,111 (2019: € 107,593,-)

– Commutation limit for small pensions: € 497.27 (2019: € 484.09

 

Changes in contribution per 1 January 2020 were set out in the newsletter of December 2019.

See the Pension Scheme Rules and Regulations for this year

 

* The pension franchise is that part of the pensionable salary not taken into account when determining pension entitlements.

** The contribution franchise is that part of the pensionable salary not taken into account when determining the member’s and the employer’s contribution.

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