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Your pension paid out in one large sum

Sometimes it is possible to have your pension paid out at once (in 1 large sum).

Is your pension lower than € € 467.89 (amount 2017)? Then we may send you a proposal to pay out your pension in 1 lump sum. If you agree with this, then you will no longer receive any pension from us. This is referred to as commutation.

There are 2 moments that your pension can be commuted
- if you have not been building up pension with us for 2 years or more;
- when you retire.

There are 3 conditions that apply to commutation
- You have not been building up pension with us for more than 2 years;
- Your pension is lower than € € 467.89 gross per year (amount 2017);
- You have not requested a proposal for a value transfer with your new pension fund.

These are the consequences of commutation
- You will not receive monthly pension from us when you retire;
- Are you entitled to exoneration of municipal taxes? Then this entitlement may lapse;
- You pay more taxes on your pension if you allow your pension to be paid out prior to your retirement date.

You can also take the pension you built up with us to your new pension fund or pension insurer.

 

 

Commutation; Buying off; Redemption