Retirement

The standard pension commencement age in our pension fund is 68.

What does this mean?
The pension commencement age of 68 in the pension plan means that calculations for the pension plan are made as if you would retire at age 68.

This doesn’t mean that you can't let your pension commence before the age of 68. Nor does it mean that your employment with Avery Dennison automatically continues until the age of 68. The collective labour agreement (CLA) provides that employment ends no later than on the 1st day of the month after you reach the age on which you become entitled to statutory pension benefits (AOW). When that happens for you depends on your date of birth. For employees not covered by the CLA, this is determined by the individual employment contracts.

What do you need to do? 

• If you're planning to retire at 67 you don’t have to organize anything in advance.
  You will receive more information from us 6 months before your retirement date. We will explain exactly how you can apply for your pension.
• Do you want to retire at some other time?
  You can choose to retire before or after your pension commencement age. 
• Just before your pension commencement date, you make the final choices for your pension.
  Conversion and/or first a higher pension, then lower.