If you work at ING, you automatically build up pension rights. That's certain. But there are also uncertainties, such as the rate of your annual pension accrual. If you'd rather avoid surprises and set aside additional retirement savings, read this article!

Say, you’re 27 and working hard to build a career at ING. You don’t have much time to think about your retirement. However, recent news about low interest rates and the implications for your pension have made you concerned about your income for later. In 2022, your pension accrual will be cut by 29.7%. What does that mean for your pension? Can you set aside additional savings to bridge the gap?

Calculation sample
Let's take a look at a calculation to illustrate what the accrual cut will mean in terms of euros on a monthly basis.

Pension savings outside your pension plan
It is not possible to make deposits in the pension plan of ING CDC Pensioenfonds. If you’re considering setting aside extra savings for your pension, you could however do the following:

• Consult an external advisor to help you explore your options and set up a financial plan for your future.
• Utilise your annual tax-deductible margin to make investments in supplemental private pension plans. The amount is specified as 'factor A' on your Uniform Pension Overview (UPO). Go to the calculation tool provided by the Dutch tax authorities at www.belastingdienst.nl to find out what you could do to make additional deposits or investments. Click here for a sample UPO 2021 and a list of frequently asked questions including an explanation of ‘factor A’.
• Visit the Money Wise website for tips on private pension savings or watch the video here.
• Go to Mijnpensioenoverzicht (MPO) to check your accrued and expected pension amounts as well as your state pension (AOW).