You accrue pension in a final pay plan
Each year, you accrue pension on a part of your salary that you have earned on 1 January in that year. The pension you accrue is based mainly on the salary you earn at the end of your career. This is known as a final pay plan. You receive this pension from your retirement date for as long as you live.
Your pension is calculated on the basis of your pensionable salary. This is your basic annual salary, plus the average shift allowance over your whole career at Mars. The pensionable salary is capped at € 137,800 (amount in 2024).
You do not accrue pension on your whole pensionable salary. We take account of the AOW you will receive from the government when you retire. The part of your salary on which you do not accrue pension is known as the deductible. In 2024, the deductible (Franchise) is € 25,666,55.
Accrual percentage
You accrue pension at the annual rate of 1.657% of your pensionable salary less the deductible. The total pension you accrue is based on the salary you earn at the end of your career. You receive this pension from your retirement date for as long as you live. This is known as a final pay plan.
Extra pension
The final pay plan has been reduced on several occasions in the past. At these times, everyone who was employed at Mars before 2018 received an amount of extra pension to compensate for past losses. The Mars pension fund registers this extra pension separately.
Deduction for the Pension Fund for the Confectionery Industry
If during your employment at Mars you have accrued pension with the Pension Fund for the Confectionery Industry (BPF Zoetwaren), this will be deducted from the pension you receive from the Mars Pension Fund. This has been taken into account in your Uniform Pension Overview and in MyMarsPension.
