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New rules for small pensions

2/11/2019

Do you no longer participate in our pension scheme? For example because you have changed jobs. In that case you may have several small pension pots with various pension funds. The rules for small pensions have changed as of 1 January 2019, because the administrative costs for these small pensions often do not outweigh their value.

 

 

 

 

Do you have a small pension, from € 2 to € 484.09 gross per year?
And are you currently no longer building up pension with us? In that case we will automatically transfer your pension to your new pension provider. You do not need to do anything. We will ensure that the pension you have built up with us and the pension you will be building up with your new pension provider will be under one roof. We will send you a letter as soon as the automatic transfer of your pension will be carried out. And your new pension provider will notify you once the automatic transfer has been completed.

Do you not (yet) have a new pension provider?
Also in this case you do not need to do anything. For we will annually check whether you have a new pension provider. If so, we will automatically transfer your pension to your new pension provider as yet. If you still don’t have a new pension provider after five years, your pension will remain with us. 

Do you have a very small pension with us, i.e. less than € 2 gross per year?
If you have a very small pension with us (less than € 2 gross per year), the following applies:

Do you stop building up pension with us after 1 January 2019?
Then your pension will automatically lapse on the basis of the new law. The amount will be returned to the pension fund’s joint pension pot. This way all participants will benefit.


Did you stop building up pension with us before 1 January 2019?
In that case we will send you a proposal before 1 May 2019 to have your pension paid out by way of a lump sum. You will only receive a proposal if the commutation value of your small pension is more than € 5. If the amount is lower, your pension will automatically lapse and the amount will be returned to the pension fund’s joint pension pot.