You participate in the Heineken Pension Fund pension scheme through Heineken; this scheme allows you to build up a pension. You receive your Retirement Pension when you become 68 years of age but you can also choose to take early retirement. Your Retirement Pension supplements your state pension (AOW). AOW is the pension you receive from the government when you reach state pension age.
Heineken’s pension scheme focuses on ensuring that you have a good income after retirement. The pension you can accrue depends on a variety of factors such as:
- your age when you became a member of the pension scheme;
- the date of your retirement;
- salary increases during your period of employment;
- increases in pension granted by the pension fund during your period of employment.
Irrespective of your age, you start to accrue Retirement Pension when you commence employment with Heineken.
The amount of pension you will receive from the Heineken Pension Fund depends mainly on the salary you have earned, the contents of the pension scheme you are a member of and the number of years of membership. Retirement Pension is normally paid out monthly after you reach the age of 68 for as long as you live. The amount of Retirement Pension you will receive is set out in your Uniform Pension Statement (UPO) which is normally sent to your message box on MijnOverheid.nl, and on www.mijnpensioenoverzicht.nl.
The pension scheme you participate in is a benefit agreement. Every year you accrue pension over part of the gross salary you have earned in that year. It is possible that not your entire gross salary is pensionable salary.
See Article 4 of the Pension scheme for what is meant by pensionable salary.
The pension scheme also sets a pensionable salary limit, which on 1 January 2023 stands at € 128,810. No pension is accrued on any part of your salary above this limit. This amount is adjusted annually in accordance with the provisions of Article 18a of the Wages and Salaries Tax Act 1964.
You do not accrue pension over the whole of your pensionable salary. This is because your pension provider takes into account the AOW you receive from the government when you reach state pension age. That part of your pensionable salary over which you do not accrue pension is referred to as ‘offset’ (franchise).
You build up 1.875% annually in Retirement Pension over your pensionable salary less the offset.
The pension basis is equal to your pensionable salary less the offset.The pensionable salary is maximised to a ceiling of € 128,810 (2023). You also receive a state pension from the government.
Your pensionable salary is € 25,000 per annum. The offset is € 15,000. In that year you accrue 1.875% in Retirement Pension over the pension basis of € 10,000. That is € 187.50 in that year. The Retirement Pension you receive upon retirement is the sum of all annual accrued pensions, plus any indexation compensation.
Would you like more information and/or wish to know exactly what our pension scheme offers? See the pension scheme or the brochure ‘Pension Scheme for participants who commenced employment after 31-12-2005’.