ABN AMRO Pensioenen Company presentation

Transcription

1 ABN AMRO Pensioenen Company presentation Net Pension Scheme

2 Agenda ABN AMRO Pensioenen Net pension Pension accrual Risk insurance Costs Communication

3 Introduction ABN AMRO Pensioenen

4 01 Introduction ABN AMRO Pensioenen ABN AMRO Pensioenen Statutory name: APG - ABN AMRO Pensioeninstelling N.V. Shareholders: ABN AMRO (70%) and APG (30%) Operational since: January 2012 Private and business bank 5.1 million private clients, including 1.3 million investors commercial clients Investment infrastructure Pension provider 4.5 million participants, employers Pension infrastructure

5 Net Pension

6 02 Net Pension Defined contribution scheme for pensionable salary above 96,544 Ability to partially or entirely use the employer's contribution to invest for pension The benefits of the voluntary net pension scheme: No tax in box 1 and 3 Pension Law applies Investment in lifecycle funds No health checks for a collective scheme Take advantage of lower costs in a collective scheme for investment and risk coverage Accrual of net pension capital is possible during employment, but not beyond 67 years; then net capital must be converted into a pension

7 02 Net Pension What does my net pension scheme looks like starting from 2015? Everyone with a salary above 96,544 participates standard in: Pension accrual of a net pension capital in lifecycle funds Partner s pension if they have a partner who is registered at ABN AMRO Pensioenen Orphan s pension Waiver of premium in case of disability

8 02 Net Pension Your pension plan is a defined contribution scheme. This means: The (maximum) amount of the premium you can contribute is known The amount of your final pension is not known At ABN AMRO Pensioenen you accrue net pension, upon retirement you are free to choose where you purchase a pension Six months before retirement we will send you more information, including an independent review of the offers for different insurers

9 Pension accrual

10 03 Pension accrual Standard you accrue capital according to the lifecycle principle (default) Investment structure whereby the composition changes over time As your retirement date approached, we will incrementally exchange equity for long-term bonds The freedom of Self Investment and Savings In the portal you can invest within a range of approximately 35 investment funds and a saving fund You invest according to your own choice, at your own responsibility ABN AMRO Pensioenen determines your investment profile and monitors your investments Pension Lifecycle Pension contribution Self Investment & Savings Investment RentePlus Rekening (1,7%) Purchasing annuities

11 03 Pension accrual The convenience of a Pension Lifecycle By default, we invest the premiums in these asset classes You do not have to do anything 100% 90% 80% 70% 60% 50% 40% 30% Longterm Bonds Bonds Real Estate Equity 20% 10% % Years before retirement date

12 03 Pension accrual Performance overview Lifecycle Basic YTD LCF Basic ,52% 25,99% 0,29% LCF Basic ,54% 18,94% 6,12% LCF Basic ,35% 14,93% 10,72% LCF Basic ,42% 15,72% 13,36% LCF Basic ,31% 15,91% 13,64% LCF Basic ,31% 15,91% 13,64% LCF Basic ,31% 15,91% 13,64% LCF Basic ,31% 15,91% 13,64%

13 03 Pension accrual Remarks for expatriates or when living or moving abroad Do I pay taxes over this net capital accrual in the Netherlands? No, you ve already paid income tax over the net premium. If you participate in this net scheme you will be exempted in the Netherlands for paying asset taxation over the capital accrual. Whether you re obliged to pay taxes in your country of residence depends on local legislation. Can I perform an international value transfer with the net pension capital? That depends on the scheme you re planning to transfer your capital to. This needs to be a net pension scheme as well. If not, there is a chance that the same capital will be taxed twice. The conditions with regard to an international value transfer will furthermore depend on local legislation. Can I purchase an annuity on the pensionable date? Yes, if you re a Dutch resident you can buy a lifelong annuity. Finding an insurance company that provides an annuity for non-dutch residents can be challenging. If you re no longer considered a Dutch resident taxpayer* under Dutch fiscal legislation (fiscal emigration), ABN AMRO Pensioenen can pay out the capital as a lump sum payment without Dutch income tax consequences. *Specific rules apply for US nationals with the Dutch 30%-ruling.

14 Risk Insurance

15 04 Risk Insurance Surviving Dependant s Pension: - Partner pension: only insured when partner is registered at ABN AMRO Pensioenen - Orphans pension: always insured If you pass away before retirement during employment: - The insured surviving dependant s pension is paid If you pass away after employment: - The risk insurance expires when you leave the employer/scheme. Your partner is entitled to the capital you have accumulated during the employment in this scheme. With this capital your partner can purchase a survivors pension Waiver of premium in case of disability: - Premiums for pension and survivor's will continue after 104 weeks of illness - The part that the insurer will pay depends on the percentage that you are disabled stated by the UWV

16 Costs

17 05 Costs Costs employee Lifecycle ± 0,30% Self investments & Saving Varies per fund Purchase and selling costs 0,0% Example employee Date of birth Date of employment Fulltime annual salary Part time% 100% Example monthly premium Maximum saving premium 532,00 Partner pension 26,32 Orphans pension 1,10 Waiver of disability 7,52 Administration costs 3,75

18 Communication

19 06 Communication

20 06 Communication Practical steps: - The login details (username + password) of the pension portal will be sent to you by e- mail this month - The portal: make a choice in the desired monthly contribution and any investment choices - Do you live together? Provide your partner data to our service desk or change it in the portal Timelines: - At the end of October your personal pension portal will be live - Friday November 13 is the deadline: - To adjust your net pension savings amount for the underlying periods - To exit from the total scheme - At the end of November all the net pension premiums of the past months will be invested.

21 06 Communication Net pension choices Default 100% Net pension plan savings + risk insurance. Net pension savings + risk insurance Only risk insurance Opt out

22 Thank you for your time

23 Appendix

24 Login page Communication - Employee

25 Dashboard Communication - Employee

26 Communication - Employee Pension overview

27 Communication - Employee Adjust choice pension overview

28 Communication - Employee Adjust choice pension overview

29 Communication - Employee Adjust choice pension overview

30 My investments Communication - Employee

31 My investments Communication - Employee

32 Communication - Employee My profile partner data

33 Communication - Employee More information