Net pension scheme
With effect from 1 January 2015 your pension build-up has been reduced. The consequence of this is that staff with a full-time annual income of over €100,000 will receive a lower pension when they retire, and the pension benefits payable on the death of an employee will also be reduced.
In order to leave your surviving relatives well cared for after your death, a temporary collective solution has been arranged for the year 2015 through the Association of Universities in the Netherlands (hereinafter the VSNU) in the form of the Loyalis Top annuity for surviving dependants. This means that there will be no cut to the surviving dependants' pension until that date.
To arrive at a final solution for an additional scheme for surviving dependants and the old-age pension,employees concerned have received a proposal from both the ABP and Loyalis. For both proposals the premium has to be paid from the net salary/wage and the value of the additional scheme is exempt from investment yield tax (box 3) in both cases.
Participation is voluntary. You may also choose not to participate in an additional scheme.
Below few general advantages and disadvantages of the propositions from the ABP and Loyalis, acknowledged by VSNU. It is important to note that this list is not exhaustive.
| Possible wishes or circumstances | ABP versus Loyalis | Plus-point for |
|---|---|---|
| You want to invest as much premium as possible | You can invest rather more with the ABP than with Loyalis | ABP |
| You may consider emigrating at some time | With Loyalis you can cash in your entitlement if you emigrate without tax consequences. This may not be possible with the ABP. There is a risk that benefits paid out from the ABP's additional scheme could be taxed abroad | Loyalis |
| You do/do not want to invest aggressively | The ABP invests more aggressively than Loyalis | ABP |
| You are single | The balance in the Loyalis scheme is inherited by hour heirs. An important advantage for single people. Under the ABP scheme the savings balance accrues to the ABP when you die. | Loyalis |
| You want a temporary benefit | With the ABP the benefit has to be a life-long benefit; with Loyalis it can also be temporary with a maximum of five years. | Loyalis |
| You work part time | Part-timers can invest more premium with the ABP than with Loyalis | ABP |
Do you have questions about the propositions, please contact ABP or Loyalis. Whether you should conclude an insurance or not we recommend to you consult a financial adviser. Maastricht University can not advise you on this.
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