Step 2: Are you happy with your pension?
According to the J&J Pension Fund pension scheme, the standard retirement age is 68. You choose the effective commencement date of your pension within 10 years before or 5 years after your state pension age. For example, in order to align it with the end of your employment or start of your AOW payment. In that case, you will receive a lower pension payment because you will be accruing pension for a shorter period and we will then be paying out the pension for a longer period.
To help you make an informed choice about when to retire, we have explained terms such as state retirement age, regular retirement date and possible retirement date in the document ‘Information about your retirement date’.
INFORMATION ABOUT YOUR RETIREMENT DATE (PDF)
But there are even more options that allow you to tailor your pension to your personal situation.
What option do you choose for retirement?
You could choose to:
• receive your pension earlier or later
• exchange (part of) your retirement pension for a higher partner's pension
• exchange (part of) your partner's pension for a higher retirement pension
• receive a higher pension for 5 or 10 years and then a lower pension for life
• receive a lower pension for 5 or 10 years and then a higher pension for life
You can read more about this choice under the fold-out Expected possibility for a lump sum payment on retirement on the page What will change?
The government is still working out the rules for this choice. As a result, details on this are not yet known.
Please note that a lump sum may affect any allowance you receive. For example, a rent or care allowance. The allowance may be reduced or even terminated. You will also have to pay tax on the lump sum.
Log in at My pension. You will be using a new way to log in. Please refer to the MFA user manual (pdf). Are you a (former) participant in J&J Pension Fund OFP? Then you can also find the pension planner on My pension. This calculation tool allows you to calculate, save and, if necessary, print various pension scenarios. For each choice, you can immediately see the effect this has on how much retirement pension you receive. You can also enter amounts from other pension funds to get a more complete view of your situation.
View the video Calculate your pension ('Bereken uw pensioen' in Dutch) at Pension choices at Johnson & Johnson Pension Fund OFP and see how the pension planner works.
Please make sure we can also reach you when you have retired!
Therefore, register your private email address.
Do you want to retire earlier than your state pension age? Make clear arrangements with your employer about this well in advance. And contact the pension fund at least 6 months before your desired retirement date. If this is not your preference, you will automatically receive a letter from us six months before your state pension age asking when you want your pension to start.
Pension amounts are provisional and subject to change
We calculate your pension using flex factors. Interest rates and life expectancy affect these flex factors. When your pension takes effect, these factors may have changed. This is because the board decides around 1 July of each year whether to change these factors from 1 January of the following year. We calculate your final pension using the flex factors in force at the time your pension starts. As a result, your final pension may be higher or lower than the amounts in your pension letter. Are you about to retire? In that case, please contact the pension fund.