Pension plan at STIP

Each year you accrue part of your pension. The amount you accrue is based on your income in that year. All of these individual parts form your final pension. You and IKEA both contribute towards the pension plan. IKEA pays 75% of the premium for each employee and you pay 25%. IKEA deducts the premium from your gross salary each month, which is reflected on your payslip. You read more in the pension regulations (pdf) (in Dutch). On this page we explain your pension plan in short.

Pension accrual
You do not accrue pension on your entire income. The offset (also known as the deductable) is deducted from your pensionable salary. The offset is the portion of your salary that is not included in the pension accrual because you will also receive AOW (State old age pension) later. The offset is adjusted annually to the level of the AOW benefit. The remaining portion of your salary – after deduction of the offset, is your pension base. You accrue 1.54% pension each year on your pension base in that particular year.

Pension for your partner and children
If you die, your partner and/or children may receive a partner’s and/or orphan’s pension. As of 1 January, 2021 the partner’s and orphan’s pension are risk-based insured. The annual partner’s pension is 1.313% of your pension base. The annual orphan’s pension is 0.263% of your pension base.

• Partner’s pension
  If you die during your employment with IKEA your partner will receive a partner’s pension from the pension plan applying as of 1 January, 2021. If you were employed with IKEA before 1 January, 2021 your partner will also receive the partner’s pension you accrued until that date, plus 1.313% of your most recent pension base, multiplied by the number of years you could have participated in our pension plan until your retirement date.
  
  If you leave the company you are no longer insured for partner’s pension. Therefor, on the date you leave the company we exchange part of your retirement pension into partner’s pension. Your partner will receive this pension after your death. If you were employed with IKEA before 1 January, 2021 your partner will also receive the partner’s pension you accrued until that date.


• Orphan’s pension
  Your children will receive an orphan’s pension until the age of 18. If they are students or are at least 45% incapacitated for work they receive orphan’s pension until no later than their 27th birthday. The orphan’s pension is paid to five children at the most.
  
  If you die during your employment with IKEA your child will receive an orphan’s pension from the pension plan applying as of 1 January, 2021. In case you were employed with IKEA before 1 January, 2021 your child will also receive the orphan’s pension you accrued until that date, plus 0.263% of your most recent pension base, multiplied by the number of years you could have participated in our pension plan until your retirement date.
  
  If you leave the company you are no longer insured for orphan’s pension. If you were employed with IKEA before 1 January, 2021 your children will only receive the orphan’s pension you accrued until that date.

Increase of pension
Your pension retains as much of its value as possible by means of a supplement or indexation. Although STIP tries to increase your pension each year by a supplement, the decision to do so depends on its financial situation. If you receive a supplement in a given year, it is not to say that you will receive a supplement again the next year. The supplement in one year can also be higher or lower than in another year. A supplement therefore does not constitute a right. STIP’s Board decides on the supplement. You read more at Indexation.