Pension premium and accrual percentage 2020

The social pension committee – the consultation forum for social partners on the pension agreement – has reached agreement on the pension plan in 2015 for a longer period. These agreements are extended for 2020. The target retirement age has been increased to 68 years, to be more exact the first day of the month in which reaching the age of 68 years. The option is given of bringing forward the entry at, for example, the state pension age. The target retirement age of 68 years goes also in 2020 with a maximum tax-allowable accrual percentage of 1.875%. Because interest rates have continued to fall in 2019, the costs of our pension accrual have increased. With a constant premium of 24% (with 8% contribution for the employee), the accrual ran the risk of getting reduced to 1.5%.

However, because Wolters Kluwer is prepared to supplement the contribution for 2020 to 27.2% and the pension fund is willing to settle for a slightly lower than cost-effective contribution, the accrual percentage in 2020 can be maintained at the maximum permitted tax level. This premium applies to the year 2020. At the end of 2020, Wolters Kluwer, the Central Works Council and the Pension Fund will once again elaborate on determining the premium, premium distribution and the accrual percentage for the coming year.

The premium for the pension plan 2020 is in total 27.2% of the pension base*.

employee premium 8.0%
 employers premium 16.0%
extra employers contribution 3.2%

The amounts regarding the state pension offset, the maximum income base and maximum pension base for 2020 have been changed compared to 2019

state pension offset € 14,167 (compared to € 13,785 in 2019)
maximum income base  € 110,111 (compared to € 107,593 in 2019)
maximum pension base € 95,944 (compared to € 93,808 in 2019)

*The pension base is the income on which pension is accrued and contribution is paid, which is twelve times the fixed gross monthly salary as it applies on 1 January or on the date of commencement of employment, plus 8% holiday allowance and minus the deductible. The deductible is that part of the income on which no pension is accrued and no contribution is paid.

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