Glossary

A small pension can often be bought off. This means that StiPP's pension is paid out in one go. In the future, you will no longer receive a pension from StiPP.  The times of surrender and payment are laid down in the law.

Abbreviation for Netherlands Authority for the Financial Markets. The AFM supervises the conduct of pension funds in the Netherlands. For example, the AFM monitors whether pension funds communicate well about pensions. The AFM also monitors whether pension funds use understandable language.

AOW is an abbreviation of the General Old Age Pensions Act (AOW). Everyone who has lived or worked in the Netherlands receives a basic income at the state pension age: AOW.  The state pension is often supplemented by a pension benefit.

The state pension age is the age at which the government pays out state pension. The government announces the state pension age five years in advance. The expected state pension age can be found on the website of the Social Insurance Bank.

Employees who are unable to work or work less due to illness and receive a WIA benefit from the UWV.

Terms of employment are agreements made between employee and employer. Examples of employment conditions are salary, vacation days, any bonuses and pension.

Investing is investing money with the aim of making this money more valuable. StiPP invests so that the pension assets can continue to grow. Investments can yield profit but also loss. That is why we handle it with care.

You can invest in several ways. For example, we can invest in stocks, bonds and real estate. We call the distribution over these categories the investment mix.

Compensation is a financial compensation. It is a one-time payment. Employees who accrue less pension in the new pension scheme may be entitled to this.

A participant is an employee who accrues pension with a pension fund. Or an ex-employee who chooses to continue to accrue pension himself. A participant can also be a former employee who is incapacitated for work and who is partially accruing pension for which the pension fund pays the contribution.

Abbreviation for De Nederlandsche Bank. The DNB monitors and monitors the financial situation of the pension funds.

The deductible is the part of the salary on which you do not accrue pension and on which you therefore do not pay any contributions. Instead, you will receive state pension from the government.

Conversion is the transfer of the accrued pension from the pension scheme that is currently in place to the new pension scheme. StiPP uses the word transfer instead of conversion.

A small pension is a pension benefit between €2 and €613.52 (in 2025) gross per year.

You are partners if you are married or in a registered partnership. And in the new scheme also if you live together without a cohabitation contract at the notary and have a joint household. 

The partner's pension is a survivor's pension. It is the pension that a partner receives in the event of the death of an employee.

The amount that is paid monthly when you retire. It is a supplement to the AOW.

The new pension law came into effect on 1 July 2023. Pension funds, employers and trade unions have made agreements together on how they will adjust pensions. This is called the pension agreement. StiPP will have a new pension scheme from 1 January 2026.

The salary on which employer and employee pay pension contributions.

The pensionable salary minus the deductible. The deductible is the part of the salary on which you do not accrue pension. Instead, you will receive state pension from the government. The employee accrues pension on the pension base.

The date on which the retirement pension starts.

This contains all agreements about the pension. Representatives of employers and employees (social partners) determine the content of the pension agreement.

The amount that is paid each month by employee and employer to a pension fund to build up pension.

A document according to the law (a legal document) with all the details about the pension scheme.

The Dutch pension system consists of three parts:

1. AOW – the basic income of the government
2. Pension through the employer
3. Pension that you arrange yourself – for example by saving or investing yourself

Employees accrue an amount for their pension. We call this pension capital. You will soon receive a monthly pension from these pension assets.

A pension administrator is a pension fund or an insurer where the pension is kept.

The return is the profit or loss on an investment over a certain period of time.

In the new scheme, your pension moves with the economy. This is an amount that we set aside to supplement your pension if the returns on the investments are very disappointing.  

This is how much risk (former) participants and pensioners are willing and able to take with investing. At StiPP, you can choose from two profiles from the age of 57: one with more and one with less risk.

Social partners are representatives of employees and employers such as trade unions and employers' organisations. Together they determine what the new pension scheme will look like. The social partners for StiPP are trade unions FNV, CNV Vakmensen and De Unie and employers' organizations ABU and NBBU.  

Everyone will receive an extra amount in addition to the pension capital when they transition to the new scheme. In the new scheme, we have to set aside less money. This allows us to allocate money from StiPP's fund assets to you during the transition. If you are still accruing pension with us, you will receive a one-off extra amount to your pension capital. If you already receive pension from us, your monthly pension amount will be higher.

The transition plan contains the agreements for the transition to the new pension scheme. The plan also states what will happen to the pension that you already have with StiPP.

This is a personal pension overview. This contains the pension assets, the expected pension benefit and what partner and children will receive in the event of death.

The pension assets with your old employer can be transferred to a new employer. This is called value transfer. You arrange this through the new pension provider. In the case of a small pension, the pension assets are automatically transferred. A small pension is a pension benefit between €2 and €613.52 (in 2025) gross per year. 

The Future of Pensions Act came into effect on 1 July 2023. The aim of the new law is to make the pension system more open, personal and future-proof. All pension funds must switch to the renewed pension system by 1 January 2028 at the latest.

The orphan's pension is a survivor's pension. It is a benefit that children receive upon the death of an employee.