Has your pension been set too high or too low?

Your pension is in safe hands with us. Are you retiring? Then we carefully calculate how much pension you will receive. Unfortunately, we may occasionally not have calculated your pension entirely correctly. For example, because your employer or the Employee Insurance Agency (UWV) provides us with other data afterwards. As a result, you may receive a pension that is too high or too low.

We will restore your pension if it is set too high or too low

The level and duration of your pension are determined by the pension scheme rules. That is therefore the starting point for establishing your pension. The assets of Pensioenfonds PGB are intended for all members. If a member receives too much compared to the pension scheme rules, other members will be disadvantaged. If we notice your pension is incorrect, we have to correct it. We will notify you and adjust your pension. We have special rules for this. It is called our ‘revision policy’. On this page, we explain which rules we apply in certain situations and what the consequences are for your pension.

Disagree with the adjustment of your pension?

In that case, you can submit your complaint (dispute) to the board of Pensioenfonds PGB.
More relevant information can be found here.

Pension that has been calculated too high may relate to pension you have already received. But it may also relate to a pension you will receive in the future.

Past pension
If it emerges you are effectively entitled to less pension than you received, Pensioenfonds PGB will reclaim the excess pension you received and you must repay it. We can also set this off against the pension you receive from us. Or you can repay this to us in one go. You can make an appointment with us for a payment arrangement.

Pensioenfonds PGB takes your personal situation into account. If couldn’t have known you received too much pension, or in the event of very special circumstances (for example, you informed us that the pension was too high and we did not do anything with this information), you may not have to repay (all of) the excess pension you received. If you have been receiving too much pension for more than 5 years, you only pay back the excess you received in the current calendar year and the 5 years before that.

Future pension
In the future, you will receive the pension you are entitled to according to the pension scheme rules. This pension is lower than what you received before.

Pensioenfonds PGB takes your personal situation into account. In the event of very special circumstances (for example, a serious physical/mental health situation or damage that can demonstrably be attributed to Pensioenfonds PGB), part of the reduction in pension cannot be set off against your monthly benefit in the future.

If you are effectively entitled to a higher pension than the one you receive from us, we will adjust your pension. You will then receive a higher monthly pension from us from that moment on. And you will receive the underpaid amount via a one-off supplementary payment.

Please note: This supplementary payment may have consequences for your tax return or allowances. This is because you have more income in the year in which you receive this supplementary payment than in other years.