What will change?

What will change?

In many respects, your pension will remain the same. But some things are changing. Here are the main changes:

  • Your pension scheme is a solidarity-based defined contribution plan This contains commitments on the amount of monthly contributions rather than the amount of annual accrual.

  • Your pension in the current scheme will be converted to capital for your pension in the new scheme. When you retire, this capital provides a monthly pension for life. We recalculate this pension every year.
  • In the new pension scheme, your pension moves with the investments. Your forecast pension could be higher or lower. If investments do well, your expected pension could rise. But if things go against you, your expected pension could also fall. The closer you get to retirement, the less risk we take. Are you retired? Then every year, we aim to grant indexations for your pension.
  • We are accruing a reserve. This is called the solidarity reserve. It is a kind of piggy bank. We use this reserve when the going gets tough. If there is enough money in this reserve, we increase the pensions of all pensioners. This is how we try to prevent these pensions from losing purchasing power. But sometimes the reserve is not enough. In very bad situations, we may actually be forced to reduce the pensions of all pensioners. The more money we have in the reserve, the smaller that risk.
  • The pension you accrue for your partner and children upon your death is insurance-based. Are you leaving employment? Then this insurance will continue for a maximum of 3 months. You can then choose to continue this insurance at your own expense. Do you have a new job with a pension scheme with another pension fund or insurer? Then the insurance with TNO Pension Fund stops.
  • Have you accrued pension in the current pension scheme for your partner and children? Then the value accrued for this survivor’s pension will be added to the survivor’s pension under the new pension scheme. So the pension you had accrued will carry over to the new pension scheme.

The animation below will give you more information about the solidarity-based defined contribution plan.

Below you can read which changes apply specifically to you.

What changes for you

The key changes for you are:

  • You accrue capital for retirement in the solidarity-based defined contribution plan as from 1 July 2026. Accrual of capital for retirement is still capped at €137,800 in 2026.

  • Your pension will move more freely with the investments.
  • We will convert your accrued pension to capital for retirement in the new solidarity-based defined contribution plan on 1 July 2026. See here[BS17.1] for more information on this conversion.
  • When you retire, you will receive a monthly pay-out on this capital, adjusted annually.
  • There are no prior agreements on the amount of your pension. We will not know the amount of pension pay-out until your actual retirement date. After that, it may vary from year to year due to fluctuations in investments. Some money is earmarked for a solidarity reserve. This serves to keep the pension in payment as stable as possible. We will indicate the expectation regarding the amount of your pension.
  • Under the new scheme, while you are employed, survivor’s pension is insured for your partner and children upon your death. They will receive this only if you die before your retirement date. Are you leaving employment? Then this insurance will continue for a maximum of 3 months. You can then choose to cancel or continue it against payment of the full premium. The premium required will be charged to your accrued capital. Do you have a new job with a pension scheme with another fund? The death insurance with TNO Pension Fund then automatically stops. You are then insured for survivor’s pension upon death with your new pension fund.
  • Have you accrued a capital for survivor’s pension in your current pension scheme? Then the value accrued for this survivor’s pension will be added to the survivor’s pension under the new pension scheme. This means that you do not lose this pension after switching to the new pension scheme.
  • For members, the WIA top-up plan expires. In its place, an alternative arrangement will be provided through the employer.

These are all the arrangements for the new scheme

The TNO social partners (the employer and the TNO Works Council) have agreed on the content of the new scheme. All agreements on the new pension scheme are set out in the ‘transition plan​​’.

For more information, also watch the webinar on the new pension scheme we presented in February 2025.

The changes for you at a glance:

  • We will convert your accrued retirement pension and partner’s pension into capital for retirement in the new solidarity-based contribution plan on 1 July 2026. See here[BS21.1] for more information on this conversion.

  • Upon introduction of the new pension scheme, we will recalculate the amount of your pension. After that, it may vary from year to year as your pension will move with the investments. There is a reserve that ensures your pension remains as stable as possible.
  • Some money is earmarked for a solidarity reserve. This is how we keep your pension as stable as possible. Together with the social partners, TNO Pension Fund has defined how the solidarity reserve is to be used and financed.
  • When your retirement pension comes into payment, you made a choice for the partner and orphan pension. In the current pension scheme, have you arranged partner and orphan pensions? If so, this pension will transfer to the new pension scheme.

These are all the arrangements for the new scheme

The TNO social partners (the TNO employer and works council) have reached agreement on the content of the new pension scheme. All agreements on the new pension scheme are set out in the ‘transition plan’.

For more information, also watch the webinar on the new pension scheme we presented in February 2025.

The changes for you at a glance:

  • We will convert your accrued pension into capital for retirement in the new solidarity-based contribution plan as at 1 July 2026. See here for more information on this conversion.
  • We will not know the amount of pension pay-out until your actual retirement date. After that, it can vary from year to year because your pension will fluctuate with the investments.
  • Have you accrued a capital for survivor’s pension in your current pension scheme? Then the value accrued for this survivor’s pension will be added to the survivor’s pension under the new pension scheme. As a result, you do not lose this pension due to the conversion.

These are all the arrangements for the new scheme

The social partners have made agreements on the content of the new scheme. All agreements on the new pension scheme are set out in the ‘transition plan’.