Once members of Philips's new money-purchase pension plan turn 50, their trustees switch their funds gradually into a combination of cash and derivatives.
The savings plan version has lots of names- stakeholder, or money-purchase, for instance, but what you get as a pension income depends on how well your plan does.
The Plan then uses the employees money that has been payroll deducted during the offering period to automatically purchase shares at a 15% discount to the purchase price.