When do you need to take action?
If you change jobs
You are working for IKEA. As a result, you accrue pension under our pension scheme.
You may transfer the pension that you have accrued earlier to our fund
This is called a value transfer. You can apply for a value transfer with us. You can apply via What must I do if … value transfer. Do you agree to our proposal? Then we will arrange the transfer.
Is your pension € 2.- or less per year? In that case your pension will lapse as is stipulated by law. For the administration costs are more than € 2.-.
Is your pension less than the lawful limit for small pensions? This is € 592,51 annually (2024)? Then your former pension fund or insurer (‘pension administrator’) may transfer your pension to us automatically. Check the latest pension statement that you received from them to see if you need to take any action yourself in order to have your pension transferred to us.
If you change jobs in the future
Will you be changing jobs and participate in another pension scheme? Then you will start accruing pension under that pension scheme. In that case you can also transfer the pension that you have accrued. You can apply for a value transfer with your new pension fund.
Is your pension with us less than the limit for small pensions? Then we will arrange the transfer automatically. Is your pension € 2.- or less per year? Then your pension will lapse.
You do not need to transfer your pension if you start a new job within IKEA. You will then continue to accrue pension with us. So your pension scheme will not change.
Do you opt for value transfer?
Then your pension will remain together. Later, you will get your pension from one pension fund.
Do you not opt for value transfer?
In that case your accrued pension will remain with your former pension fund. You will not pay any contribution anymore and also not accrue any pension any longer. Later, you will receive that part of your pension from your former pension fund.
Think carefully whether value transfer is advantageous for you
A value transfer can be convenient. It allows you to keep your whole pension together. But there may also be disadvantages. Therefore, look thoroughly at the financial situation of your former and your new pension fund first. Does your new employer offer a better pension for your surviving dependants? Or will there be less chance of pension curtailment at your new pension fund? In that case value transfer can be advantageous. Of course, the reverse is also possible.
This information may be helpful to make a choice
- The Pensioen 1-2-3 of your former and your new pension fund
You can see what each fund provides and does not provide. And whether your pension may increase in the next few years. - Compare your pension
You can use the pension comparison tool (‘pensioenvergelijker’) to compare the most important features of your pension schemes. This way you will immediately see the differences. You find the pension comparison tool in layer 3.
Not sure what is the most sensible to do? Then it is advisable to consult your financial advisor.
If the financial situation is not healthy, value transfer may not be immediately possible
The financial situation of both your former and your new pension fund must be healthy. Their policy funding ratio must be at least 100%. This is stipulated by law. This way the government prevents you from running risks.
Is the financial situation not healthy? Then you can apply for a transfer, however. But your pension will remain with your former pension fund until the financial situation of both funds is healthy again. After that you will receive a proposal. You can then decide if you wish to transfer your pension.
What is the policy funding ratio?
The policy funding ratio is the relation between:
- the capital of the pension fund and
- the funds the pension fund needs to pay the current and future pensions.
When the funding ratio is 100%, the two will be equal. In that case there will be exactly enough money for all the pensions to be paid.
Each fund will measure the policy ratio over the last 12 months. We will take the average of that. This is called the policy funding ratio. We measure this every month. Read more about our financial situation on Latest news.
If you start a new job in another country
Are you starting a new job in another country? Then it may be possible for you to transfer your pension. This depends on the pension system in that country and the pension scheme of your new employer. Do you wish to know more? Then ask your new employer if you can transfer your pension to your new pension fund.
If you become incapacitated for work
If you become ill, your employer will continue to pay your salary. You will also continue to accrue pension. In case you stay ill for longer than 2 years, you are incapacitated for work.
You will continue to accrue pension if you are incapacitated for work for 35% or more
You will no longer pay any contribution. Our pension fund will pay your contribution. It will only do so for the part of your disability.
Are you still working part-time? Then you will continue to accrue pension for that part as usual. You and your employer will share the contribution.
This is how it works
This schedule shows how much pension you will continue to accrue at our expense. For your disability percentage we will look at the rules of UWV (Uitvoeringsinstituut Werknemersverzekeringen):
| The percentage of your disability is: | You pension accrual rate is: |
| 80% - 100% | 100% |
| 65% - 80% | 72.5% |
| 55% - 65% | 60% |
| 45% - 55% | 50% |
| 35% - 45% | 40% |
| 0% - 35% | 0% |
For all the conditions please check our pension regulations in layer 3.
Notify us if you become incapacitated for work
Do you become incapacitated for work or does the percentage of your disability increase or decrease? Then you have to inform us. Send us a a copy of the letter from UWV including that decision. This enables us to arrange your pension without delay. You will receive a letter from us with information. We will also keep you informed of any changes regarding your disability.
You may also receive a supplemental pension
If you are incapacitated for work, you may receive a WIA benefit from the government. Read more about this on UWV.nl. Is your gross salary more than € 71.628,- annually (2024)? Then you will not receive a WIA benefit over your salary exceeding that amount. You will then receive a disability pension from us. This is called WIA supplemental pension.
These are the conditions
- You are fully incapacitated for work when you start participating in our pension scheme.
- Are you partly incapacitated for work when becoming participant in our pension scheme? In that case you will only receive pension on the part of your disability.
- Do you become incapacitated for work for 35% or more? Then you will receive a WIA supplemental pension from us. But only on the part of your gross salary exceeding € 71.628,- annually (2024).
- If you become fully incapacitated for work, the maximum WIA supplemental pension is € 83.327.- annually (2024).
For all the conditions please check our pension regulations in layer 3. Of course we will notify you in case you qualify for a supplemental pension from us.
Carefully consider the consequences for your pension if you become incapacitated for work
Ask your financial advisor whether you need to make additional arrangements. You may take out insurance, for example. This will provide you with more income in the event of disability.
In case you are getting married, decide to cohabit or conclude a registered partnership.
In case you are getting married or decide to cohabit. Or if you conclude a registered partnership.
Carefully check the amounts and conditions of the partner’s pension
For instance on your Uniform Pension Overview or on My pension. You can see your entire pension and state pension on mijnpensioenoverzicht.nl.
Register your partner with us if you live abroad
Do you live in the Netherlands and are you married or registered partners? Then you do not need to register your partner with us. Your municipal authority will inform us automatically. Do you live abroad? Then you do need to register your partner with us via My pension.
Also register your partner with us if you are cohabitating
If you cohabitate, your partner will not automatically receive partner’s pension in the event of your death. There are certain conditions. For instance, you need to have a cohabitation agreement, concluded before a civil-law notary. You have to register your partner with us via My pension.
Check What is covered by our pension scheme for more information
Check whether you have to take additional measures
Are the pension arrangements for your partner not adequate? Then make sure that you take additional measures yourself. For instance by taking out insurance. Ask your insurance company for more information.
In case you are divorcing, end your cohabitation or terminate your registered partnership.
In case you separate, you have to make financial arrangements together. Your divorce will have consequences for your pension.
Your ex-partner is entitled to retirement pension
Your ex-partner is entitled to half of the retirement pension accrued during your marriage or registered partnership. You and your partner may, however, have different arrangements. These arrangements can be laid down in an agreement upon your marriage or divorce.
Please let us know what arrangements you have made
You or your ex-partner have to inform us of your divorce and the agreements that have been made within 2 years. In that way you make sure that we arrange your pension correctly. Do you or your ex partner not notify us within this 2 year period and did you make other arrangements regarding the allocation of your retirement pension? In that case, unfortunately, we will not be able to pay the pension for your ex-partner directly to him or her. You will then have to arrange the payment concerning the allocation of your retirement pension with your ex-partner.
Deregister your partner with us if you live abroad
You can do this via My pension, for we will not be notified of this automatically. Do you live in the Netherlands? Then the municipal authorities will inform us of your divorce and you do not need to take action yourself.
Did you cohabit? Then you do not need to take action
Your ex-partner is not entitled to retirement pension if you cohabited. You and your ex-partner may have different arrangements, however. In that case you will divide your pension without involvement of our pension fund.
Your ex-partner is not entitled to partner’s pension
In our pension scheme the partner’s pension is risk-based insured. In case you separate your ex-partner is not entitled to part of the partner’s pension.
Did you participate in our pension scheme before 1 January 2021?
Then you have also accrued partner’s pension, which is subject to the regulations of your former pension scheme. You will find more information on the website.
Did you cohabit? Then deregister your partner
You can do this via My pension.
If you are moving abroad or within another country
If you move within the Netherlands, the municipal authorities will inform us. Do you move to or within another country? Then inform us of your new address. You can do so via My pension. This way we can keep you informed of your pension.
Your state pension from the government may also change, for it depends on the number of years you live or work in the Netherlands. Please call the Social Insurance Bank (SVB) for more information. Or check their website: SVB.nl.
If you become unemployed
If you become unemployed, your pension accrual with us will stop. After retiring you will receive less pension, unless you make other arrangements yourself. Check carefully whether you have adequate arrangements for the pension for your partner and children. Because once you have left employment, their pension is no longer insured.
You may be able to take additional measures
For instance by taking out insurance. Or by putting aside money for later. Are you starting a new job? Then you may start to accrue pension again with a new employer. You have the option to transfer you pension. This is called a value transfer. Apply for this with your new pension fund.
You do not need to let us know if you leave the company
Your employer will inform us of this.
You will receive a pension statement when you leave employment
After that you will find your pension overview each year in My pension. You will receive an overview of your pension from STIP every five years.
If you start working less or more hours
Are you planning on working more or fewer hours? Then your salary will probably change. The contribution for your pension will also change, for the amount of your contribution depends on your salary.
You start working fewer hours
If you start working fewer hours, you will probably receive a lower salary. As a result, you will accrue less pension for yourself. And your partner and children will receive less pension when you die. You will also pay less contribution.
Are you working 100% now? And do you want to work 80%? Then, until your retirement, you will also accrue pension for 80%. As a result, you will receive less pension than if you continue to work 100%.
Working more hours
If you start working more hours, you will probably receive a higher salary. As a result, you will accrue more pension for yourself. And your partner and children will receive a higher pension when you die. You will also pay more contribution.
Are you working 50% now? And do you want to work 80%? Then you will also start building up pension on your 80% salary. As a result, you will receive a higher pension than if you continue to work 50%.
Think carefully how this choice will affect your pension
Do you wish to know exactly how working more or fewer hours will affect your pension? Then view My pension.
Perhaps you can make extra arrangements if you start working fewer hours. For instance by accruing more pension. Consult with your financial advisor whether you need to make extra arrangements.
If you are taking unpaid leave
Are you going to take unpaid leave? Then you will remain to be employed by your employer. You will also continue to participate in our pension scheme. But your pension may change, however.
This is how it works
- If you take parental leave
You will continue to accrue pension with our pension fund. IKEA will pay the contribution for the part of your unpaid leave. So your parental leave will not impact the pension you will later receive. - Do you take additional birth leave?
In that case you will continue to accrue pension with us for 70%. - Do you take unpaid leave for other reasons?
In that case the accrual of your pension will stop. For instance if you take unpaid leave for a sabbatical. - You will remain insured for partner’s and orphan’s pension during the first 18 months of your leave. This way, your partner and children will receive a pension if you die while on leave.
Consult with your employer on what pension arrangements he made on your behalf
Are you not sure what is applicable to you? Your Human Resources department will gladly give you more information.
You do not have to let us know if you take leave
We will be notified by your employer. He will let us know what arrangements you made.
Check your pension at least once a year on mijnpensioenoverzicht.nl
Check your pension at least once a year:
- on My pension.
- on mijnpensioenoverzicht.nl. There you can also check the amounts of your state pension (AOW) and other pension. You also see your net pension.
If you wish to make your own choices regarding your pension
There are various options for your pension. You may, for example, transfer your former pension to your new pension fund. You may choose that option when you change jobs. Do you opt for early retirement or deferment of retirement? You can make that choice once your pension almost commences. You will find more information and a description of other options in What are your options? in this Pensioen 1-2-3.
Once you make your choice on your retirement date, you cannot undo it. So ensure that you have all information available before making a choice.
