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Pension Planner
My Pension
Pension 123
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Questions

Pension is a complicated issue, and we are well aware of that. The information on this site is based on life phases and corresponding issues. You can find them below in the drop-down menu. If your question is not covered by the website, just ask us and we’ll contact you.

For even more specific questions, we refer you to the following pages:

  • Do you have specific questions about a change in your personal or work situation? Per life event we have collected frequently asked questions with the corresponding answers for you. Click here.

  • Do you have specific questions about the policy of the fund? In fund documents we have collected frequently asked questions with the corresponding answers for you. Click here.

  • Do you have specific questions about your UPO? In publications you can find an explanation of the UPO and frequently asked questions with the corresponding answers. Click here.
Who plays what role in the pension triangle?

What does CDC mean?

CDC stands for Collective Defined Contribution. The defined, or fixed, contribution is determined for the collective participants. In a CDC pension plan, annual contributions are fixed, while the resulting pension is not. The risk that your pension may ultimately be too low to meet your needs or expectations is your risk. More information about the CDC pension plan is available on this website.

What does ING CDC Pensioenfonds do?

With effect from 1 January 2014, ING CDC Pensioenfonds will ensure your pension accrues, provided cumulative contributions are sufficient to allow accrual. The fund also pays out pensions accrued after 1 January 2014.

Am I free to choose a different pension fund instead of ING CDC Pensioenfonds?

No, you may not choose a different pension fund. The pension plan was set up as agreed by and between the social partners (trade unions and employer). One of the terms of their agreement was that ING CDC Pensioenfonds would administer the pension plan. You are bound to this agreement, which has been laid down in the collective labour agreement.

Who bears the risk in the CDC-pension plan?

The employees bear the risks. Contributions may be insufficient and return on investments may be disappointing. This may result in less pension accrual and less indexation, or none at all. Ultimately, your pension may be lower than expected. In the CDC pension plan, this risk has been shifted to you personally. Your pension accrual and the rate of indexation are conditional on ING CDC Pensioenfonds having sufficient financial resources.

Is the CDC pension-plan based on a final salary system or an average salary system?

As long as you remain employed by ING, the pension base that corresponds to your annual salary accrues pension every year. This is what we call an average salary system. Full accrual of your CDC pension will only be possible if the contribution is sufficient to allow this.

At what age will I start accruing pension?

You will start accruing pension in ING CDC Pensioenfonds as soon as you enter employment, regardless of your age.

What is the standard pensionable age under the CDC pension plan?

Your pension accrues in the CDC pension plan until you reach the age of 67. You may bring forward your pensionable age to your 60th birthday. You cannot defer your pensionable age after your 67th birthday.

Who pays for the pension contribution?

ING and the employees pay for the contribution together. Agreements have been made to this effect in the collective labour agreement.

Does the employee pay the same contribution every year?

As per 2021, your contribution is 7.5%.

Will the income threshold for pension accrual (franchise) be raised in line with salary increases?

No. The income that does not accrue pension will be adjusted in line with the minimal fiscal franchise on a yearly basis.

What is the annual accrual rate applied by ING CDC Pensioenfonds?

As long as the cumulative contributions are sufficient, ING CDC Pensioenfonds will ensure that your pension accrues at 1.780% of the pension base per year.

What happens if the contributors are inadequate?

Pension accrual is conditional. If the annual contribution is insufficient, the pension accrual rate will be adjusted downward.

Why is return on investment relevant to my pension?

Return on investment is important because approximately 25% of the pension ultimately paid out to you is funded from contributions, while the remainder is funded from return realised on the fund’s investments.

Why is return on investment relevant to future indexation?

Return on investment is needed to fund future indexation, which helps maintain the purchasing power of your pension despite inflation.

Who will pay for future indexation?

NG CDC Pensioenfonds will pay for future indexation of pensions. Whether or not indexation is granted, and at which rate, will depend on the fund’s financial position.

When will I receive my Uniform Pension Overview (UPO) during the summer?

The fund will send you your personal Uniform Pension Overview (UPO) during the summer.

Is a pension planner available for employees?

Sure! This handy tool enables you to check online whether your pension is on track. You will also be able to calculate the effects of the choices you make when you retire. Use your DigiD to log in.

Do you want to stay informed on topics that matter to your pension?

Make sure we can reach you. Change your e-mail address in My Pension, before your pension starts.

I have a complaint. Where can I report it?

Despite our care and transparency, there may be times when you are left with an unsatisfied feeling and wish to make a complaint. We are committed to ensuring the prompt and efficient resolution of any concerns. To file a complaint, please visit our Complaints page. Here the procedure is clearly explained.