What is the impact of a change in your circumstances to your compensation? A few examples

Pension fund Witteveen+Bos is expected to switch to a new pension scheme on 1. January 2027. The new pension scheme has a different accrual system. Anyone who is accruing pension with us on 31 December 2026 and 1 January 2027 (including those who are incapacitated for work and accruing pension on a non-contributory basis) and who is expected to be disadvantaged by the new system will receive compensation if this is financially feasible.

Compensation means extra money for your pension. We add the compensation to the pension capital with which you start in the new pension scheme. The more money there is to distribute, the more money is available for compensation. Read more about compensation here.

We cannot yet say exactly whether you will receive compensation and how much. We do know, however, that certain choices will affect the compensation. We will illustrate this with a number of examples. The examples are based on the following principles and assumptions:

Amounts are calculated based on a coverage ratio of 125%.

We assume that pensions commence when someone reaches the age of 67 (except for Maarten).

The amount that the compensation yields in terms of additional expected pension is net per month and in "current euros”. This means that for amounts that someone will receive in the future, we take into account the expected rise in prices. As a result, the amount is lower than the amount that someone will ultimately receive gross. The amounts “with purchasing power” give a realistic picture of what the pension means in terms of income, because you can compare it with current prices.

Out of service

If you leave the company on 31 December 2026 or 1 January 2027, you will not receive any compensation. What is the expected compensation if you are still employed on 1 January 2027?

Roy (aged 40, EUR 40.000 annual salary)

Expected compensation: EUR 1,600

Expected additional pension: EUR 11 (net per month)

Yolanda (aged 60, EUR 70.000 gross annual salary)

Expected compensation: EUR 18,000. Expected additional pension: EUR 79 (net per month)

Working less

Suppose that Roy and Yolanda from the example above start working one day less at the end of 2026 (from 100 % to 80 % part-time). This would have the following consequences for their compensation:

Roy (aged 40, EUR 40.000 annual salary)

Difference in expected compensation (compared to working 100 %): EUR 320 less.

Difference in expected additional pension (compared to working 100 %): EUR 2 less (net per month)

Yolanda (aged 60, EUR 70,000 annual salary

Difference in expected compensation: EUR 3,000 less

Difference in expected additional pension: EUR 17 less (net per month)

Please note:

Will you be on unpaid leave at the end of December 2026? If so, you will not receive a salary for that month and will not receive any compensation. This is because the compensation is determined on the basis of your salary in December 2026.

Retire in December 2026 or January 2027?

Maarten (aged 66, EUR 70,000 gross annual salary)

Maarten is unsure whether to start his pension in December 2026 or January 2027. He is still employed by Witteveen+Bos.

Will he retire on 1 December 2026 or 1 January 2027? If so, he will not receive any compensation. This is because you must still be employed by Witteveen+Bos on 1 January 2027.

Will he retire in February 2027 or later? If so, this is what can be expected:

Expected compensation: EUR 1,900

Expected additional pension: EUR 7 (net per month).

Someone who is almost 67 years old receives less compensation than someone who is younger. After all, the expected disadvantage of accrual in the new pension scheme is smaller: you have already accrued most of your pension.