Guaranteed Pension Plan

What is the Guaranteed Pension Plan?

The Guaranteed Pension Plan is a pension scheme in which you build up part of your retirement pension each year. The Guaranteed Pension Plan is a defined benefit scheme. This means that how much pension you will receive is fixed in advance.

Costs of your pension

Your employer pays a monthly contribution towards your pension. Your employer determines whether he pays the entire contribution or if you should also pay a part. Your pay slip tells you whether you pay any pension contribution and how much you pay.

Your Uniform Pension Statement (UPS), which you receive every year around September, tells you:

• How much pension you have built up so far.
• The pension that you can expect to receive when you reach retirement age.
• The amount of partner’s pension and/or orphan’s pension if you die (if applicable). Click www.svb.nl to find out whether your partner can get a Anw Survivor Benefit Pension from the state.

Your pension introductory letter tells you:

• Which type of defined benefit scheme applies to you
• Which additional arrangements apply to you, depending on the choices made by your (former) employer.
• Whether your pension is subject to an inflation risk.