The ASML pension scheme in 2016
• Introduction
• Your total pensiono Retirement Pension
o Surviving dependents' pension
o Disability Pension
• Insight in your pensiono Zwitserleven portal
o Mijnpensioenoverzicht.nl
o Employee service desk
Program
Pension in the Netherlands
AOW from the Government (state pension)
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The level of AOW as of 1 January 2016, including holiday allowance
• AOW ( Algemene Ouderdomswet)• Single : € 1.155 gross per month• Partner : € 809 gross per month• Both partners 65+ : € 1.619 gross per month
(2 % accrual per year)
65 + 6 months
AOW
AOW from the Government (state pension)
De AOW, waar let ik op?
Partner allowance from the AOW (State Pension)
Partner allowance stoppedafter the 1st of January 2015
What changed in the AOW?
• The AOW retirement age in 2019 to 66 years
• The AOW retirement age in 2023 to 67 years
• Increase retirement age started in 2013, with one month
What has further been changed in the AOW?
• The AOW retirement age in 2019 2018 to 66 years
• The AOW retirement age in 2023 2021 to 67 years
• Linking retirement age to life expectation
Latest adjustment per June 2015
Pension ASML
Salaryabove
BPF max
Salary up to
BPF maxBPF pension PME
(Metalektro)
SupplementaryPension Scheme Additional
savings
ANW shortfall
insurance
One-off payment in
case of death
Mandatory insurances Voluntary insurances (paid by employee)
3a
4 5 6
AOWThreshold
2
1
€ 70,416 (2016)
€ 15,104 (2016)
€ 101,519 (2016)
Salaryabove100k Net Pension Plan
3b (default)
The ASML pension scheme 2016
Pensioengrondslag
• Determined annually on January 1• Salary (Capped till € 101,519.00)• Adjustment PME- offset
The pension base is that part of your salary over which you accrue pension entitlements
Pensionable Salary
PME- offset (2016)
Pension base
€ 90,000.00
€ 70,416.00 -/-
€ 19,584.00
- Monthly salary X 13- Holiday allowance (8%)
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The pension base (Supplementary Pension Scheme)
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Premium
The monthly premium is invested
Employee
Employer contributes a monthly premium into your pension account
40
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Premium
Employee
The older you get, the higher the premium
40
AgePercentage of pensionbase
2016
21 - 24 year 5.40%
25 - 29 year 6.40%
30 - 34 year 7.80%
35 - 39 year 9.50%
40 - 44 year 11.60%
45 - 49 year 14.20%
50 - 54 year 17.40%
55 - 59 jaar 21.50%
60 - 64 jaar 26.80%
From age 65 31.50%
21 6740
Due to the increasing of the premiums and the net return on investments,the pension capital will increase
Employee
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Employee
40
On retirement date, the amount of moneyis converted into a lifelong benefit
Defined contribution: Pension base X Premium %
Additional savings: Use calculator on the Zwitserleven Page
Premium % for 100K net pension plan: 48% X table % (101.519 Euro)
AgePercentage of pensionbase
2016
21 - 24 year 5.40%
25 - 29 year 6.40%
30 - 34 year 7.80%
35 - 39 year 9.50%
40 - 44 year 11.60%
45 - 49 year 14.20%
50 - 54 year 17.40%
55 - 59 jaar 21.50%
60 - 64 jaar 26.80%
From age 65 31.50%
The pension premium
Cost Pension account• Depending on investment choice between 0,315%
and 1,57% for the Zwitserleven funds
Own contribution pension scheme
• 3.9 % of your pension base
100% Invested in
Zwitserleven funds
Cost
• No cost deducted from the premium
The cost of your pension scheme
• Zwitserleven has 3 variants of investments
• HorizonBeleggen, ProfielBeleggen and VrijBeleggen
• The default choice is HorizonBeleggen as of 1 January 2016.
• After receiving your pension statement you can switch to ProfielBeleggen or VrijBeleggen
• Switching via the Zwitserleven portal
What type of investment choices do you have?
HorizonBeleggen (default choice)
Higher risk
Phase 3Phase 2Phase 1
other investments
Stocks
Government bonds
Corporate bonds
Age
ProfielBeleggen
other investments
Stocks
Government bonds
Corporate bonds
allocation of investments
inve
stm
ents
Age
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risk
Age
High
Low?
• You determine the investment strategy yourself• You are free to choose from the funds• More information can be found on www.zwitserleven.nl/fondsen• Zwitserleven monitors and sends you alerts!
?
VrijBeleggen
What do we expect from you?
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• You can make your own investment choice:
• Do you feel comfortable with HorizonBeleggen? Then no action is required
• Do you want a different investment choice? Go to your personal webpage of Zwitserleven. There you can choose a different investment by using the question form.
• You can always change your investment choice via your personal webpage.
The accrued pension capital will be transferred at no cost per October, 2016
to your new Zwitserleven pension account
Accrued value(until October, 2016)
New pension account
Traaccrued capitalTransfer of accrued pension
• In October 2016 the “old” value (accrued pension till 01-01-2016) will be transferred to your new investment choice
• Is your old value (partly) invested into a guarantee fund and no change of investment is passed? Then the value of the invested premiums till January 1, 2016 remains invested into the guarantee fund. The new premium from January 1, 2016 will be invested in ProfielBeleggen Neutraal.
• Would you like to invest your new premium into the guarantee fund (1%)? Then please go to your personal webpage. Click the ”Beleggen" tab. Select ”ProfielBeleggen naar VrijBeleggen" and choose Zwitserleven Maatschappijgarantie 1%.
• The the investment choice for your new premium will start a day after the date of change.
What do we expect from you?
Surviving dependents’pension
• Algemene nabestaandenwet (ANW) • Benefit in 2016 € 14.659 gross per year (€ 1.222 per month)• If partner meets following criteria:
• Born before 01.01.1950• Children under age 18• 45% or more disabled
• Reduction based on the partner’s income level (between € 755 and € 2.484 gross per month)
AOW
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Wezenpensioensalary
ANW benefit
ANW Benefit from the Government
Surviving dependents’pension
AOW
Nabestaandenpensioen vanuit de werkgever (keuze)
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Wezenpensioen
• Partner pension = 1.313% X Pension base X years of service (48% for part 100K plan)• Orphans pension = 20% of the Partner Pension (until age18, until age 27 if the child studies)
• ANW shortfall insurance Insured at Elips Life (voluntary insurance)• One off payment in case of death (voluntary insurance)
Use calculator on Zwitserleven page to calculate costs voluntary insurance
Orphans pensionOrphans pension
ANW benefit
salary
Surviving dependents’pension
Partnerpension
Werknemerscommunicatie
+
Zwitserlevenportal
Employee deskMijnpensioenoverzicht.nl
+
Insight in your pension
• Overview of your pension value
• Expected pension at retirement
• Partners’ Pension
• Change your investment choice
• Digital file
• Log in with your DigiD
Zwitserleven Portal
Adjust investment choice
Adjust your investment choice
www.mijnpensioenoverzicht.nl
Download details
www.mijnpensioenoverzicht.nl
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• One point of contact for questions regarding retirement• Tel: (020) 347 88 94• Email: [email protected]• Questions regarding:
• AOW• Pension plan• Pension Overview
• Personal matters, such as:• Value Transfer• Divorce
• They are there for you!
The employee service desk for all your questionsWerknemersdesk
What can you expect from Zwitserleven
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• Support for your pension plan
• Your personal Zwitserleven portal active in July 2016 (www.mijnpensioen.zwitserleven.nl)
• Access to the Zwitserleven Pension planner in September 2016(www.zwitserleven.nl/pensioeninzicht)
• Transfer of your accrued pension in October 2016
Thank you for your attention