UPO
To download the UPO click here.
For more information about frequently asked questions, click on the questions below for more information.
1. What is a UPO?
Your UPO provides you with a summary of your pension entitlements. It also shows you how much pension you will receive if you continue working at ING until your retirement date.
2. How often do I receive a UPO?
Are you employed by ING, receiving pension or on sick leave? In all of these cases, you receive a UPO once a year. Have you left the company? In that case, we will prepare a digital version of your UPO for you once a year. Once every three years, we will send you a hard copy of your UPO as well.
3. When will I receive my UPO for 2024?
In April, you will receive your UPO. It is based on your situation as at 1 January 2024.
4. Where can I find my UPO?
Use your DigiD to login at ‘My Pension’ and go to ‘My Documents’.
5. I have noticed an error. What should I do?
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 the Pension Desk. It will help us ensure that your pension is calculated as precisely as possible.
6. Which parts of my UPO are most relevant?
Most relevant items:
- Old age pension (under: ‘How much pension will I get when I retire?’)
- Partner pension (under: ‘How much pension will my partner and children get if I pass away?’)
- Contribution-free pension accrual and occupational disability pension (under: ‘How much will my pension plan pay out while I am on sick leave?’)
7. Why are the amounts reported in my UPO different from those in the Pension Planner and on the website Mijnpensioenoverzicht.nl?
The UPO shows the status of your pension as at 1 January 2024. The figures in the Pension Planner and on Mijnpensioenoverzicht.nl are based on current data.
8. Why has my partner not been included in my UPO?
Your UPO is based on your situation as at 1 January 2024. If you got married or entered into a registered partnership after that date, your partner will not be included in this UPO. If you have a partner with whom you are cohabitating, he/she will not be mentioned in your UPO.
9. How do I report my cohabitation partner to the pension fund?
Use your DigiD to login at ‘My Pension’ and go to ‘Direct regelen’.
10. My partner pension as stated in my UPO for 2024 is lower than it was in my UPO for 2023. Why is that?
If you got a divorce, the old age pension that was accrued for your ex-partner until the date of your divorce has been assigned to your ex-partner.
11. I am divorced and have split my partner pension with my ex-partner. Is this reflected by my old age pension as stated in my UPO?
The old age pension that was accrued for your ex-partner was deducted from your old age pension if your divorce took effect before 31 December 2021 and was processed in the pension fund's records by that date.
12. What is included in a pensionable salary?
Your pensionable salary consists of your:
- monthly salary
- holiday allowance
- 13th month
- allowance for extended working hours
- indexed personal allowance (PTI)
- gradually reduced personal allowance (PTA)
- on-call availability allowance
- shift work allowance
13. What is a franchise?
When you retire, you will also receive pension from the Dutch state (AOW). Therefore, part of your salary does not accrue pension in your employer's pension plan. This part of your salary is called "franchise".
14. Wat is a pension base?
This is your pensionable salary minus the franchise.
15. What do I do if I receive multiple UPOs?
You may also have accrued pension in Pensioenfonds ING or Nationale-Nederlanden. In that case, you will also receive a UPO from Pensioenfonds ING or Nationale-Nederlanden. Every pension administrator is required by law to supply a pension overview showing the pension entitlements you have accrued in that pension plan. For a complete overview, you must combine all of your UPOs.
16. Is my Dutch state pension (AOW) included in my UPO?
Your AOW is not included in the UPO. You will find it in www.mijnpensioenoverzicht.nl.
17. How do I get a comprehensive view of my pension accruals?
Use your DigiD to login to the Pension Planner of ING CDC Pensioenfonds or go to www.mijnpensioenoverzicht.nl.
18. What price index is used to determine pension increases?
On 1 April 2017, ING CDC Pensioenfonds started using the final overall consumer price index for households in the Netherlands, as published by Statistics Netherlands (CBS).
19. What is factor A?
Factor A is the pension you build up during a calendar year. Factor A on your UPO 2021 relates to the accrued pension in 2020. If you receive multiple pension summaries, you must add up all of the factor A amounts mentioned in each of the summaries. To calculate your tax-allowable annual margin, go to the website of the Dutch tax authorities at www.belastingdienst.nl (Belastingdienst > Rekenhulp Lijfrente).
20. The UPO and Mijnpensioenoverzicht show different estimates of how much pension I will get in the event of favourable or adverse conditions. Why is that?
Your UPO only shows an estimate of the pension you will get from ING CDC Pensioenfonds, in gross annual amounts and given a certain retirement age. The government’s website, www.mijnpensioenoverzicht.nl, shows an estimate of your overall future pension benefits through all of your pension plans plus your Dutch state pension (AOW). The amounts shown on that website are based on your retirement hypothetically starting on the same date as your AOW and are shown in net monthly amounts.
21. What is an accrual cutback and how does it affect my pension?
Since 1 January 2019, you have had a new pension plan with fixed pension contributions. Every year as at 30 September, ING CDC Pensioenfonds assesses whether the fixed contributions will be sufficient to fund the pension accrual targeted for the year ahead. Unfortunately, that was not the case for 2020, 2021 and 2022. We informed you about this by way of personal letters, which you will find in 'My Pension' (via ing.cdcpensioen.nl).
The accrual rate of pensions was lowered in 2020, 2021 and 2022 and this has affected your pension. Have another look at the sample calculations on pension fund's website. Or use your DigiD to visit the Pension Planner at nn.cdcpensioen.nl to help you find out how much income you’ll need when you retire and whether your pension is on track to achieving that goal. If you think your pension won’t cover your expenses when you’ve retired, the Pension Planner will help you find out what you can do to increase your retirement income. For example, by setting aside additional retirement savings outside your pension plan.
22. Where can I find more information?
Would you like to find out more about your UPO or your pension? Please contact the Pension Desk: We can be reached at 088 - 1162 411 or you can send an email to pensioenloket@ing.cdcpensioen.nl. Go to the life events page for pension information relevant to your phase in life and your work situation.