Employees who started working at DOW prior to 2014 are currently building up a pension under the average earnings scheme with the Limited Backservice. Your pension amount is based on your average salary (up to a maximum annual salary of €128,810*) and your duration of service at DOW. Thanks to the Limited Backservice, we are currently increasing your accrued pension by 2% every year.
Will your pension cover your living costs?
Prices are rising every year, and it is difficult to predict how much they will continue to rise in the future. The DOW Pension Fund Foundation provides a nominal (constant) pension. This means your pension income from DOW will no longer increase after you retire. Compared to the typical pension arrangements in the Netherlands based on averaged salaries during one’s career it provides a starting level but it does not contain inflation compensation. To avoid unwanted surprises, please check how your income and expenses might look later on in life.
How to get an insight
- Log in to Mijn Pensioencijfers (My Pension Figures) at dowpensioen.nl and see how much pension you can expect from our fund when you retire.
- Complete the Pension Sketch on this page to get an overview of your expected expenses after your retirement.
- At mijnpensioenoverzicht.nl, you can see the total pension that you might have accrued through other employers, including your state pension.
By comparing your expected income and expenses, you can see whether your income will be enough to cover your living costs.
What can you do?
You can choose to supplement your pension yourself, for example through an annuity insurance. The younger you are, the more of an additional pension you can save up this way.
- Build up your own additional pension through the United Pensions premium scheme. For more information, visit www.unitedpensions.nl.
- Build up your own additional pension through a bank or insurer.
- Build up a tax-friendly additional pension if you stay within the annual allowance. To determine this, you need to know your Factor A , which can be found on your Uniform Pension Overview. You can calculate your annual allowance at www.belastingdienst.nl. Search for ‘jaarruimte’.
*On any salary above this limit, you will accrue pension in the net future scheme. Read more about this in our pension regulations at www.dowpensioen.nl under 'Documenten' (Documents).