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Your pension paid out in one large sum

Sometimes it is possible to have your pension paid out as one lump sum.

If your pension is lower than € € 474.11 gross per year (amount 2018), we can propose paying your pension out as one lump sum. If you agree to this proposal,you will receive no further pension from us. We refer to this as commutation.

There are two moments when your pension can be commuted
- when you have not accrued any pension with us for two or more years;
- when you retire.

Three conditions apply to commutation
- You havent been áccrueing pension with us for two or more years;
- Your pension is less than €474.11 gross per year (amount 2018);
- You have not submitted a value transfer application to your new pension fund.

The potential consequences of commutation are:
- You won't receive a monthly pension from us when you retire;
- If you are you entitled to a remission of municipal taxes, you may lose this right;
- You will pay more tax over your pension if you have it paid out before your retirement date.

You can also transfer your pension to your new pension fund or pension insurer.

 

 

Commutation; Buying off; Redemption; Value transfer