Maximum basis for old age pension accrual capped at €100,000

As of January 1, 2015 the maximum basis for the first pillar old age pension accrual  will be decreased and capped to an amount of €100,000. In combination with the adjustment as of January 1, 2014 (pension age set at of 67), the maximum allowed accrual rates per January 1, 2015 will be decreased again, to 1.675% for a final pay pension scheme and 1.875 for a pension scheme based on average pay. The contributions for the defined contributions old age pension scheme will obviously also be adjusted. Old age pension accruals for salary exceeding €100,000 is only possible through a so-called net annuity scheme.