Your own pension

Below are the main reasons for the difference between the amounts under the current scheme and the new scheme.

Difference in target retirement age

For the calculations under the current scheme, we use a target retirement age of 68 as per our regulations. For the calculations under the new pension scheme, we use the statutorystate pension agein accordance with the transition plan. That depends on your date of birth. If you were born in 1960 or earlier, the state pension age is 67. If you were born after 1960, we will assume 67 years and 3 months. That is the maximum state pension age currently laid down by law.

The difference in the target retirement age also results in a difference in the expected pension for current and former employees. This is because under the new pension scheme, we take into account 9 to 12 months fewer contributions and a pension that starts (slightly) earlier.

This is the result:

• For all current and former employees of TNO and its affiliated companies, the difference in the target retirement age has a partially negative impact on the calculated expected monthly pension under the new scheme compared to the calculated expected pension under the current scheme.
• For a number of employees (particularly those over the age of 40) ,this may mean that their expected pension under the new scheme will be lower than under the current scheme.

We allocate the assets managed by the pension fund.

When we transition to the new pension scheme, we will divide up the total assets managed by the TNO Pension Fund. Everyone will then receive a capital for their pension. From the moment your pension starts, that capital, together with the investment returns generated on it, will provide you with a pension for as long as you live.

The pension capital you start with after the transition is based on the amount of pension you have accrued or are already receiving. It may be increased further depending on our funding level at the time of the transition.

TNO’s social partners (TNO’s Executive Board and TNO’s Works Council) have agreed that the fund’s assets will be allocated as follows:

Our initial calculation is based on the financial situation as at 1 October 2025.

At that time, the funding level was approximately 132%. As this is higher than 110%, an increase in the pension capital was applied in the initial calculation.

This is the result:

• Under the new scheme, pensioners will immediately receive a higher monthly pension than under the current scheme.
• Members who are not yet receiving a pension have had their pension capital increased in the calculation, on top of the amount of pension accrued under the current scheme. The impact on the expected monthly pension varies from person to person. This depends on a person’s age and how much pension they have accrued. In many cases, the expected monthly pension will be higher than under the current scheme. However, this does not apply to everyone who is not yet receiving a pension.

There is no longer a cap when we distribute the investment returns.

Every month, we distribute the returns on our investments. If they are profitable, your pension savings will increase. Under the current pension scheme, there is still a cap on the amount by which your pension can be increased. Under the new pension scheme, there is no cap on the increase in your pension capital. This means that the capital for your pension (and hence your expected pension) can grow significantly if our investments are successful.

Are you still young? You will see this effect especially in the case of a pension ‘if investments are very profitable’. Please take into account that it is unlikely you will receive this amount. This is the outcome of a situation where investments have been generating exceptionally high returns for a long time.

Smaller reserve

A smaller proportion of the investment returns is allocated to the reserve. In the new pension scheme, we refer to this as the solidarity reserve. This means that more money can be allocated to your pension pot if your investments perform well.

Under the new pension scheme, the solidarity reserve is primarily intended to safeguard the pensions we pay out. If you have not yet started drawing your pension and are not having much luck, we will not cover that with the solidarity reserve.

This is the result:

• If you have bad luck, your expected pension is likely to be lower than under the current pension scheme. This is because you are taking on greater investment risk and, as long as you have not yet retired, there is no reserve to top up your pension capital.
• If, on other hand, you are in luck, your expected pension will be higher. This is because less money goes into the reserve and more goes towards your pension.
• The impact on the pensions we pay out is less significant. If pensions need to be cut and there is enough money in the reserve, we will top up the pensions. As things stand at the moment, it is unlikely that the pensions we pay out will have to be reduced in the coming years. However, it cannot be ruled out that they fall at some point.

Your partner’s and/or children’s pension

• If you had already started accruing a partner’s and/or orphan’s pension before 1 July 2026, it will remain in place. The amount accrued will be converted into capital for the partner’s and orphan’s pension under the new scheme. No pension will be lost. The calculation will then show the accrued partner’s pension and orphan’s pension (for both the current and new schemes). This goes for all situations: whether you are still accruing pension, leaving employment or already receiving a pension.
• Under the current scheme, orphan’s pension is payable up to the age of 21. Under the new scheme, all children will receive an orphan’s pension until the age of 25.
• The new pension scheme provides for a partner’s pension and an orphan’s pension. This means that a partner’s and orphan’s pension is provided for as long as you pay your contributions, or as long as you voluntarily continue the insurance. If you leave your job, your insurance cover will end after three months. After this period, you can choose to continue the insurance voluntarily on payment of the premiums. These premium payments will then be automatically deducted from your pension pot each month. Good to know: this is only possible if you do not yet have another job.

We add the amounts under the current scheme to the partner’s and/or orphan’s pension under the new scheme.