Are you an employee of ING? If so, your salary was raised by 3% on 1 September. What will the raise mean for your pension at ING CDC Pensioenfonds?

If your employment conditions are governed by the collective labour agreement (CLA) and you were employed by ING on both 31 August 2019 and 1 September 2019, your personal monthly salary was raised by 3% on 1 September.

Pensionable salary
Every year, you build up pension for the salary you earn in that year. Your pensionable salary comprises 12x your gross personal monthly salary plus holiday allowance, 13th month and any allowances you qualify for.

More salary means more pension?
This is not always the case. The maximum amount of pensionable salary for 2019 is € 8,966.08 gross per month. This amount is adjusted annually in line with the maximum amount allowed for tax purposes. Any salary you earn in excess of the maximum amount does not accrue pension in ING CDC Pensioenfonds. Some sample calculations:

Nadine earns € 9,000 gross per month in 2019. Her salary increases by 3% to € 9,270. The salary increase will not affect her pension accrual.

Arjen earns € 4,000 gross per month in 2019. His salary increases by 3% to € 4,120. The salary increase will affect his pension accrual.

Merel earns € 8,900 gross per month in 2019. Her salary increases by 3% to € 9,167. The salary increase will partly affect her pension accrual.

Stay up to date
ING CDC Pensioenfonds is the administrator of your pension plan. To check the status of your pension, visit your personal account or the Pension Planner via the pension fund's website, or Mijn Pensioenoverzicht provided by the Dutch government. If you have any questions, please don’t hesitate to contact the Pension Desk.