StiPP pension plan changes in 2022

StiPP pension scheme changes in 2022

On 1 January 2022, StiPP's pension scheme will change . The vesting period for participation in the Basic Scheme will be reduced from 26 weeks to eight weeks. In addition, the pensionable salary will change. It is important that you adjust your administration in time so that you continue to provide us with the correct data from 1 January 2022.

Adjustment of waiting period for participation in the Basic Scheme

After working eight weeks for the same employer, an employee will start accruing pension in the Basic Scheme as of January 1, 2022. The social partners in the industry have decided on this. Employees of temporary employment agencies covered by StiPP's obligation decision will accrue pension earlier with StiPP as a result. Employees who have worked for you for more than eight weeks but less than 26 weeks on 1 January will start accruing pension under the Basic Scheme as of 1 January 2022. Employees who reach the eight-week vesting period in 2022 will start accruing pension from that time. For employees who are already participating in StiPP's Basic or Plus Scheme, nothing will change as a result of the reduced waiting period.

Adjustment of pensionable salary

Your employee accrues pension from StiPP on part of their salary. This is called the pensionable salary. Which parts of the salary are pensionable is determined by social partners. The social partners in the industry have agreed that the pensionable salary will change from 1 January 2022, from which time the pensionable salary will consist of:

• the salary for employee insurance, with the exception of the addition as a result of private use of a business car
• the employee share in the premium for the pension plan
• the wage exchanged for tax-free reimbursements or tax-free benefits in kind pursuant to article 20 of the Collective Labour Agreement for Temporary Agency Workers ('exchange of employment conditions').

The last two points have not changed from the current scheme. The change therefore concerns only the first point. The way in which you submit your employees' pension data does not change. This means that you will submit the pensionable hours and accrued pensionable earnings per month or per four weeks via PDO, as you are accustomed to doing. You will continue to use the moving cumulative calculation method (VCR) as you are already using. Read StiPP's explanation on calculating your pensionable pay and pensionable base.

Method of calculating contribution remains the same

The pensionable salary changes, but the way the contribution is calculated remains the same. This means the following:

• Premium Basic Scheme: 2.6% of the (new) pensionable salary
• Contribution Plus Scheme: 12% of the (new) pensionable salary -/- franchise.
  A maximum of 4% of the 12% may be withheld from the temporary worker.

You pay this premium to StiPP. A maximum hourly wage also continues to apply. Above that hourly wage, your employee does not accrue pension with StiPP. The franchise and the maximum hourly wage are determined annually on 1 January, as you are used to.