In order to determine the maximum pension you can accrue, the government has stipulated a target retirement age. This age is linked to life expectancy. We calculate your pension (and contribution) on the basis of the target retirement age. Because we are all living longer, the target retirement age rose from 67 to 68 years of age as of January 1 2018. This is not necessarily the date on which you actually retire; your state retirement age remains the point of departure. Below, a number of calculations are presented for each sector.

**1. Jan accrues capital over part of his salary**

Jan is 53 years old. He works fulltime and earns € 32,500 gross per year. He accrues capital over part of his salary This is because, at a later date, he will also receive a state pension (AOW) from the government. Consequently, we deduct an amount from his salary, the offset sum (being the portion of his salary over which no pension entitlement is built up). The amount that is left over is the pension base.

| 2018 | 2017 |

Gross per year | € 32,500.00 | € 32,500.00 |

The offset sum | € 14,132.00 | € 13,923.00 |

Pension base | € 18,368.00 | € 18,577.00 |

**2. We calculate how much of the contribution we invest on Jan’s behalf**

The amount of contribution we invest, depends on his age. Jan is 53 years old. In 2017, we invested

€ 2,574.77; that was 13.86% of the 2017 pension base. In 2018, we are investing € 2,547.64; that is 13.87% of the 2018 pension base.

Age on 1 januari | Investment 2018 | Investment 2019 |

15 to 19 years of age (inclusive) | 5.04% | 5.04% |

20 to 24 years of age (inclusive) | 5.62% | 5.60% |

25 to 29 years of age (inclusive) | 6.50% | 6.51% |

30 to 34 years of age (inclusive) | 7.59% | 7.56% |

35 to 39 years of age (inclusive) | 8.76% | 8.75% |

40 to 44 years of age (inclusive) | 10.22% | 10.22% |

45 to 49 years of age (inclusive) | 11.90 % | 11.90% |

50 to 54 years of age (inclusive) | 13.87% | 13.86% |

55 to 59 years of age (inclusive) | 16.28% | 16.31% |

60 to 64 years of age (inclusive) | 19.35% | 19.39% |

65 to 67 years of age (inclusive)* | 22.34% | 22.05% |

**The target retirement age is to rise from 67 to 68 years of age.*

**3. Jan will only know how much pension he is to receive when he reaches retirement age.**

At this stage, the amount of pension that Jan will eventually receive isn’t definite. This depends on his capital and the rates at which he’ll be able to purchase a pension when he retires. Regarding this rate, we take account of the following:

ou accrue pension capital with us. We then invest your pension contributions on your behalf. In the following calculation, you can see how we calculate how much of your personal contributions we invest. The deposits depend on your age, not on the contribution you pay. You can also see how the deposits differ between 2017 and 2018. **1. Jan accrues capital over part of his salary**

Jan is 53 years old. He works fulltime and earns € 32,500 gross per year. He accrues capital over part of his salary This is because, at a later date, he will also receive a state pension (AOW) from the government. Consequently, we deduct € 14,040 from his salary (the offset sum). The amount that is left over (the pension base) is € 18,460. **2. We calculate how much of the contribution we invest on Jan’s behalf**

The amount of contribution we invest, depends on his age. Jan is 53 years old. In 2017, we invested €1,498.58; that was 8.12% of the 2017 pension base. In 2018, we are investing € 1,508.18; that is 8.17% of the 2018 pension base.

**1. Jan accrues capital over part of his salary**

Jan is 53 years old. He works fulltime and earns € 32,500 gross per year. He accrues capital over part of his salary This is because, at a later date, he will also receive a state pension (AOW) from the government. Consequently, we deduct € 14,040 from his salary (the offset sum). The amount that is left over (the pension base) is € 18,460.

**2. We calculate how much of the contribution we invest on Jan’s behalf**

The amount of contribution we invest, depends on his age. Jan is 53 years old. In 2017, we invested €1,498.58; that was 8.12% of the 2017 pension base. In 2018, we are investing € 1,508.18; that is 8.17% of the 2018 pension base.

Age on 1 January | Deposit 2018 | Deposit 2017 |

15 to 19 years of age (inclusive) | 2.97% | 2.95% |

20 to 24 years of age (inclusive) | 3.31% | 3.28% |

25 to 29 years of age (inclusive) | 3.83% | 3.81% |

30 to 34 years of age (inclusive) | 4.47% | 4.43% |

35 to 39 years of age (inclusive) | 5.16% | 5.13% |

40 to 44 years of age (inclusive) | 6.02% | 5.99% |

45 to 49 years of age (inclusive) | 7.01% | 6.97% |

50 to 54 years of age (inclusive) | 8.17% | 8.12% |

55 to 59 years of age (inclusive) | 9.59% | 9.55% |

60 to 64 years of age (inclusive) | 11.40% | 11.36% |

65 to 67 years of age (inclusive)* | 13.16% | 12.92% |

*The target retirement age is to rise from 67 to 68 years of age

**3. Jan will only know how much pension he is to receive when he reaches retirement age.**

At this stage, the amount of pension that Jan will eventually receive isn’t definite. This depends on his capital and the rates at which he’ll be able to purchase pension when he retires. Regarding this rate, we take account of the following:

**1. Jan accrues capital over part of his salary**

Jan is 53 years old. He works fulltime and earns € 32,500 gross per year. He accrues capital over part of his salary This is because, at a later date, he will also receive a state pension (AOW) from the government. Consequently, we deduct € 14,040 from his salary (the offset sum). The amount that is left over (the pension base) is € 18,460.

**2. We calculate how much contribution we invest on Jan’s behalf**

The amount of contribution we invest, depends on his age. Jan is 53 years old. In 2017, we invested

€ 3,033.72. That is 16.43% of the pension base. In 2018, we are investing € 3,051.44. That is 16.53% of the pension base.

Age on 1 January | Deposit 2018 | Deposit 2017 |

15 to 19 years of age (inclusive) | 6.00% | 5.98% |

20 to 24 years of age (inclusive) | 6.70% | 6.64% |

25 to 29 years of age (inclusive) | 7.74% | 7.72% |

30 to 34 years of age (inclusive) | 9.05% | 8.96% |

35 to 39 years of age (inclusive) | 10.44% | 10.38% |

40 to 44 years of age (inclusive) | 12.18% | 12.12% |

45 to 49 years of age (inclusive) | 14.18% | 14.11% |

50 to 54 years of age (inclusive) | 16.53% | 16.43% |

55 to 59 years of age (inclusive) | 19.40% | 19.34% |

60 to 64 years of age (inclusive) | 23.06% | 22.99% |

64 to 67 years of age (inclusive)* | 26.62% | 26.15% |

*The target retirement age is to rise from 67 to 68 years of age

**3. Jan will only know how much pension he is to receive when he reaches retirement age.**

At this stage, the amount of pension that Jan will eventually receive isn’t definite. This depends on his capital and the rates at which he’ll be able to purchase pension when he retires. Regarding this rate, we take account of the following: