At the beginning of this year, Pensioenfonds Dranken joined Pensioenfonds Detailhandel. The value of all (accrued) pensions was transferred on 1 January 2019. This means that from that moment on employees build up their pension with Pensioenfonds Detailhandel and pension beneficiaries receive their benefits from this fund.
Why this switch?
Pensioenfonds Dranken is transferring because the costs per participant at Pensioenfonds Detailhandel are lower and pension interests are better represented. Read more about our pension scheme
The level of the premium is 22.5%.
The distribution of this percentage in accordance with the collective labour agreement is:
- Employer contribution 63.70%
- Employee contribution 36.30%
The 2019 franchise is € 18,929; Pension base is the Social Insurance Funding Act wage on an annual basis up to € 55,927, minus the franchise
What does this mean for you?
- Are you an employer?
Then you received a letter from us in mid-December. This will clarify how to provide the necessary information to us.
- Are you a participant?
You will receive a letter from us as soon as we have received your salary details from your employer, probably in the first quarter of 2019.
- Are you a pension beneficiary?
Then you received a letter from us in January informing you about your benefits and the payment dates.
- Are you a former participant?
Then you will receive a letter in March.
The transition from Pensioenfonds Dranken to Pensioenfonds Detailhandel has been completed
From January 1 of this year, both the pension accrual and the pension payment are in the hands of Pensioenfonds Detailhandel.
Work on the transfer of the accrued pensions is still in progress. Once this process has been finalised, Pensioenfonds Dranken will be discontinued.
The final calculations on 31 December 2018 showed that the coverage ratio of the Pensioenfonds Dranken was, as expected, higher than that of the Pensioenfonds Detailhandel.
The agreement between the two funds stipulates that in the case of a so-called surplus, the pension of the participants of Pensioenfonds Dranken may be increased. It is not yet known exactly how high that amount / percentage will be and from which month in 2019 this increase will start. This will be communicated by letter to all participants of the former Pensioenfonds Dranken, at the latest in the fourth quarter of 2019.
(Note: The 0.1% indexation that Pensioenfonds Detailhandel has now allocated to its members covers the year 2018 and is therefore unrelated to this.)
Employers: approx. 300
Participants: approx. 4600
Pension beneficiaries: approx. 4000
Former participants: approx. 13,000
- untill 1-1-2019: AGH in Rijswijk
- after 1-1-2019: TKP Pensioen in Groningen
Transfer from Dranken to Pensioenfonds Detailhandel
Early 2019, Branch Pension Fund Beverages (Bedrijfstak Pensioenfonds Dranken) transferred to Pensioenfonds Detailhandel. A number of things will be changing, such as the differences in wage definitions and pension base alterations. These changes are explained below.
The pension regulations describe which part of the wage is regarded as pensionable pay. Therefore pensionable pay descriptions can differ between funds.
The differences between the schemes of BPF Dranken and Pensioenfonds Detailhandel are as follows:
The pensionable pay of BPF Dranken includes the following:
– The fixed (annual) salary plus holiday pay (8%);
– Other salary components such as:
- Thirteenth month;
- End-of-Year bonuses;
- Shift work bonuses;
- Overtime pay;
The pensionable pay of Pensioenfonds Detailhandel comprises of all the wage components as described in Chapter 3 of the Social Insurance Funding Act, or the uniform wage definition, also referred to as the “SV-loon” (the wage for social security purposes being the amount on which your social insurance contributions are based),. Please note: the employee pension premium contribution is not included in the determination of SV-loon.
- Benefits and entitlements in accordance with the WAO (Disability Act), WIA (Law on Work and Income in Accordance with Capacity for Work), WW (Unemployment Insurance Act) and additional benefits provided by the employer;
- A car provided by the employer
- The wage relating to the period starting from the retirement date;
As you can see, there are a number of significant differences that (may) affect the amount of the wage that you must forward to us.
If you would like more information about the wage definition, you can find this in the relevant pension regulations.
- BPF Dranken art 2.1
- BPF DTL art 1.17
Also the way in which you must submit your data to Pensioenfonds Detailhandel is different from what you were used to at BPF Dranken.
Delivery and processing of wage data
Until 2019, you supplied your wage data at the beginning of the year. The pension fund recalculated the data into annual amounts and pension bases.
At Pensioenfonds Detailhandel you are required to submit a pension declaration for every wage period. You can send us a pension declaration directly from your salary package. How that actually works you can read on www.pensioenfondsdetailhandel.nl/werkgevers
Based on the data provided Pensioenfonds Detailhandel will calculate the pension bases. This will be done using the VCR method.
Should you wish to accrue pension on the salary from € 55,927 to 107,593, you can participate in the supplementary scheme. With this scheme your employees will accrue pension on their salary above the maximum wage Social Insurance Funding Act (Wfsv). If you are interested or would like to make use of this scheme, please contact us.