From 1 January 2027, SSPF will switch to the new scheme.

What does a variable pension mean?

You will continue to receive your pension from SSPF as usual. You will receive benefits from the Collective Variable Pension (CVP). This is a shared pension fund in which retirees share certain risks collectively.

The pension remains invested with the aim of increasing the benefit over time. SSPF determines the investment strategy based on the preferences of the overall group of retirees. You do not need to choose a risk profile yourself.

How does it work?

• The amount of the benefit you currently receive will be the starting point for the variable benefit under the new scheme.
• During the transition to the new scheme, SSPF's current buffer will be distributed.
• As a result, your pension will increase from July 2027.
• Within the CVP, certain risks are shared collectively.
• You can think of the CVP as a shared pension fund. This shared pension fund cannot be 'depleted'.
• This shared pension fund is invested by SSPF with the aim of increasing benefits over time.
• Benefits are adjusted annually based on investment results. This is expected to result in a positive adjustment in many cases. However, the adjustment may also be negative if investments perform poorly. For this reason, results are spread over time to minimise fluctuations in the benefit.
• In addition, there is a risk-sharing reserve. This reserve is intended to prevent pensions from having to be reduced unexpectedly during the first 15 years after the transition to the new pension scheme.
• There is a strong likelihood that this reserve will still exist after 15 years. As long as this reserve is in place, your pension will not be reduced. The benefit will increase when results are positive.