Pension scheme as of 1 January 2025
Pension scheme as of 1 January 2025
What will change in the pension scheme as of 1 January 2025? An overview of all the changes is given below.
The 2025 employment conditions are known, which means that the 2025 pension scheme is also known. Pension is, after all, an employment condition. Therefore, since 2020, the premium agreement has been set annually by TNO’s social partners (TNO Board and Works Council). There are also a number of changes to the pension scheme arising from legal agreements, such as the maximum pension accrual. Below, we outline those changes for 2025 and what these changes mean for your pension. Of course, all of the changes have also been incorporated into the 2025 pension regulations.
Pension accrual and pension contribution in 2025
As in 2024, pension accrual in 2025 is also at the pension ambition level: 1.75%. Over the past three years, the pension accrual has been lower. In 2022 and 2023, the pension accrual was 1.50%, while in 2021 it was 1.46%. Because the government permitted us to use a new contribution period from 2024 to 2028 for 2024, we were also able to use a more recent interest rate term structure for the contribution calculation.
A condition for that contribution period is that the contributions in the new period cannot be lower than the 2023 contributions. TNO Pension Fund fulfils this. The pension contribution in 2025 is 20.34% as in 2024. You do not pay this contribution entirely yourself as part of it is paid by the employer. The employer settles the other part of this pension contribution with you via your salary. The calculation also takes into account the non-contributory base. You can see how much this is on your January payslip.
The indexation of accrued pensions and pension rights in payment as of 1 January 2025 is 1.42%. Read more about this in the news item on the indexation.
Legal changes
As well as the pension contribution with associated accrual, there are several annual, legal pension scheme changes, including the ‘threshold amount’ and the maximum amount for pension accrual in 2025.
‘Threshold amount’
First of all, the ‘threshold amount’, also known as franchise, is the amount over which you do not accrue a pension. It’s roughly equal to the state pension you will receive from the government when you reach state retirement age. From 1 January 2025, the level of the franchise is €18,124 (this was €17,427 in 2024).
Maximum amount
The statutory maximum amount over which you can accrue a retirement and a partner’s pension also applies. That amount was indexed annually, but the government has unfortunately decided not to index that amount in 2025 and 2026. In 2025, that amount is therefore still €137,800. For higher-income earners, this is an austerity measure for the pension accrual.
In addition, it is good to know that since 2024, you can only supplement your pension in the Extra or Net pension scheme if you were already a member of that scheme. For new members, this is unfortunately no longer possible, as you were able to read in a previous item.
The retirement pension you receive is a total of what you have accrued each year plus any indexation and, in principle, this is paid out for life. For many years, the accrual percentage was 1.75%, but it was 1.46% and 1.50% between 2021 and 2023, before returning to 1.75% as of 2024. This means that, in 2025, you will accrue retirement pension based on a maximum of €137,800 – €18,124 = €119,676 * 1.75%, and 70% partner’s pension. In the event of death during employment, 70% of 1.75% pension accrual is also assumed for the remaining duration until the deceased’s state retirement age date.
See what’s changing
In the TNO Pension Fund portal, you will soon be able to see the adjusted amounts as of 2025. You will then be able to see what the 2025 changes will mean for your final pension accrual. Go to ‘My Pension’ and log in with your DigiD. You can then use the data to determine for yourself whether you are accruing enough pension. The changes will also be shown on your annual pension statement, which will be sent out this spring.
Ask your questions
If you have problems logging in or have questions about your pension, please contact the AZL pension administrator. During office hours, call +31(0)88 – 116 2401 or send an email to pf-tno@azl.eu.