On 1 January 2019 we made a few adjustments to the Pension Plan Rules. Here you can read what these adjustments are.

 

  • Automatic transfer of accrued benefits

If you leave your current employer, you stop accruing pension benefits with us. From 1. January 2019, we will then transfer your pension automatically to the pension provider of your new employer if the pension receivable at age 68 is lower than EUR 484.09 per year. The Board has decided to do so that pension is kept as close as possible to its pension allocation and that employees are not confronted with 'gaps' due to pensions bought out prematurely.

 

Via the Pension Register we find out at which pension provider you are currently accruing a pension. If you do not have a new pension provider, we can commute your pension after five years. We can only do this if we have tried to transfer your pension five times and if you agree to the commutation.

 

If the pension amount is higher than EUR 484.09 per year, you decide whether you wish to transfer your pension or not.

 

Other changes effective from 1. January 2019 are as follows:

  • The exchange factors in Appendix 1 of the Pension Plan Rules. These factors are used to determine the size of the pension payment after the near-retiree has informed us of his pension choices.
  • The commutation factors in Appendix 2 of the Pension Plan Rules. We use these to commute a pension.
  • Amounts that are mentioned in the Pension Plan Rules and that have been indexed by the government.