Together we make more of our pension: advantages of a collective pension
Whether you are a self-employed painter & decorator or a salaried employee: you automatically accrue pension with BPF Schilders. After all, there are many advantages to accruing a pension collectively (with your colleagues in the industry).
Would you like to find out more about the advantages of collectively accruing pension? Click the topics on this page to expand them and read all the details.
At BPF Schilders, you pay a fixed premium, together with all your fellow painters & decorators, to accrue your retirement capital. So you share the risks with your colleagues. As a result, and because BPF Schilders administers pensions for many people at the same time, the associated costs are relatively low. So everybody pays less. In addition, BPF Schilders is a non-profit organisation. To sum up: you benefit from a good pension for a relatively low premium. Furthermore, the premium is tax-deductible.
A smart investment generally yields a better return than money in a savings account or stashed away under your mattress. That is why we invest your pension premium. To give you an idea: based on the current pension premium, we need an average return of 2% in order to pay out the pensions for which we are responsible now and in the future. We cannot achieve that by only putting money into a savings account. We have to invest to stay on track. During the past ten years, we achieved an average return of well over 5%.
As an entrepreneur, you deduct the money you pay for your pension from your annual turnover. This reduces your taxable income. And you pay less tax as a result. That difference is worth having. Something else to consider: the money you pay out now comes back as income later on!
Sometimes you have an outstanding year, but in other years your income may be lower. We take this into account. Within limits set by specific rules, you can choose how much pension you want to accrue each year. If you choose to accrue less, you also pay a lower premium. This choice has no effect on the pension that you have already accrued. That stays intact. Other pension solutions often allow you to use the money you have already saved for your pension if your income is much lower than usual. BPF Schilders does not offer this option. That may seem like a disadvantage. But it has the advantage of preventing a situation in which you have less left, or perhaps nothing at all, when you retire.
Your partner receives a monthly pension in the event of your death. As long as she or he lives. The amount of this pension is calculated as if you had paid pension premiums up to your state pension age. This provides a lifelong partner pension that is always more than the lump sum payment offered by some other pension solutions.
Suppose: you die at 40. BPF Schilders acts as though you have accrued pension until your state pension age. This higher amount is used to calculate the pension your partner will receive. Many other pension solutions pay your partner a lump sum after your death. That can be a substantial amount. But it will never be more than the amount you have saved until your death.
What if you live together, but don't have an official registered partnership?
Always register your partner with us in that case!
When you are incapacitated for work, you can no longer go to work and you earn less or nothing. However, you can carry on accruing pension if you wish. If you meet the relevant conditions, you carry on accruing pension with BPF Schilders without having to pay any premium. We call this non-contributory accrual. Other pension solutions do not usually offer this possibility. Or you may still pay premiums, but at a lower rate. The latter depends on the estimated taxable profit, hours worked and taxable profit.
Do you still receive income from your business during your period of incapacity for work? If so, you must inform us accordingly. You will have to pay premiums based on this income.
BPF Schilders invests the premium you pay. We do this to keep your pension premium affordable. And to ensure that your pension grows in line with rising prices. Did you know that, on average, you receive twice as much pension from BPF Schilders as you pay in contributions for your old-age pension?
At BPF Schilders, you and all your fellow painters & decorators are important. We arrange pensions for you all. This means that we also listen to the opinions and wishes of entrepreneurs.
You are represented as a group on the board of BPF Schilders. One of the board members is specifically appointed to represent all the entrepreneurs at board level. He or she looks after your interests. Entrepreneurs are also represented in the Accountability Council. This council assesses whether the board has taken the interests of all groups into account in a balanced manner when making decisions. These arrangements ensure that you, as an entrepreneur, can influence the pension plan offered by BPF Schilders.