Are you employed by ING, receiving pension or on sick leave? If so, you received a new Uniform Pension Overview (UPO) in late May. The UPO gives a summary of the most relevant information concerning your pension plan, so you can check your pension more efficiently and avoid unpleasant surprises.

Your UPO provides a summary of your pension entitlements. It also shows you how much pension you could ultimately receive if you continued to work at ING until your retirement date, and how much pension your partner and children will receive if you pass away. Go to ing.cdcpensioen.nl and log in to the 'My Pension' using your DigiD to view your 2018 UPO digitally.

What's new?
Your ultimate pension as stated in your UPO for 2018 is lower than it was in your UPO for 2017. This is because the social partners (ING and the trade unions) decided to lower the annual accrual rate from 1.875% to 1.738% with effect from 1 January 2018. Click here for more details on this decision.

Quick overview
If you received your UPO in printed format and would rather receive your information in digital format, please send us your email address. Go to ing.cdcpensioen.nl and login to ‘My Pension’ using your DigiD. Next time, we will send you an email to inform you that your digital UPO is available.

Reference date
The UPO shows the status of your pension as at 1 January 2018. If you want to see more up-to-date figures, go to the Pension Planner or www.mijnpensioenoverzicht.nl. Your details are regularly updated there. 

Frequency
Are you employed by ING, receiving pension or on sick leave? In all of these cases, you will receive a UPO every year. If you've left ING, you will receive a UPO once every three years. Your UPO for 2016 is available in ‘My Pension’. The next UPO will be provided in 2019.

Get to work!
Check your UPO
We make every effort to compile your UPO as accurately as possible. Nevertheless, it may be incomplete or inaccurate. If you find this to be the case, please report this to us. It will help us ensure that your pension is calculated as precisely as possible.

Check your ‘factor A’
Did you build up any pension through ING CDC Pensioenfonds in 2017? If so, your 2018 UPO will show your ‘factor A’ for 2017. ‘Factor A’ is the amount of pension you accrued in a calendar year. Your ‘factor A’ amount is relevant in the following cases:

• You have not yet reached your AOW retirement age (Dutch state pension) and you want to set aside additional retirement savings. 
• You already have additional retirement savings (an annuity policy, for example) and you need to file your tax return. The ‘factor A’ helps you calculate whether you have fully used up your tax allowance.

To calculate your tax allowance, you can use the calculation tool for annuities provided by the Dutch tax department at www.belastingdienst.nl

Combined UPOs
If you were already employed by your current employer before 1 January 2014, you may also have pension savings in Pensioenfonds ING. This pension fund will send you a UPO as well. Every pension administrator is required to provide a pension overview showing the pension entitlements you have accrued in that pension plan. For a complete view, you should combine all of your UPOs. Or go to www.mijnpensioenoverzicht.nl

Find out whether your pension is on track
Would you like to find out how much retirement income you'll need? And whether your pension is on track to achieving that goal? You can use the Pension Planner to check the status of your pension savings in ING CDC Pensioenfonds and, if applicable, Pensioenfonds ING, alongside your Dutch state pension (AOW) and your savings through pension plans provided by your previous employers (if applicable). If you feel your pension will be insufficient, the Pension Planner will help you find out what you can do to increase your retirement income. Go to ing.cdcpensioen.nl and log in to the Pension Planner using your DigiD.

Looking for more information?
We do our utmost to make your pension easier to access and understand. Any other questions? No problem! We’re here to help you.

Click here for a sample 2018 UPO including an explanation.
Click here for a list of frequently asked questions and corresponding answers.

You can contact the staff at the pensioenloket@ing.cdcpensioen.nl (088-1162 411). They will be happy to answer your questions.