This information is only relevant when you received a pension statement. We explain some of the concepts.
The pension fund where you accrue a pension.
Type of pension plan
Your pension plan is a defined benefit agreement. In our pension plan you accrue a fixed pension.
The relevant salary for your pension accrual
This is the part of your salary on which you accrue pension, such as your monthly salary. Sometimes you also accrue pension on certain elements of your salary. Your monthly salary and certain elements of your salary together are your pensionable salary. The elements of the pensionable salary are listed in the pension regulations in layer 3.
You do not accrue pension over...
You do not accrue pension over part of your salary. This is called the franchise.
The salary on which you accrue pension
We use this part of your salary to calculate your pension accrual. This is called the pension base.
Yearly accrual percentage
Every year you accrue a certain percentage of pension on your pension base. This is called the accrual percentage.