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Commuting your pension

If your pension is lower than € 474.11 gross per year (amount 2018), then you may be able to have your pension paid out as one lump sum.
Subsequently, you will receive no further pension from us. We refer to this as commutation.


 

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


 

When you retire, you can indicate in mijnpgbpensioen.nl that you would like your pension paid out as one lump sum.
If you have not accrued any pension with us for two or more years; then you can commute your pension until 1 January 2019.   
After that date, we will automatically transfer your small pension to your new pension provider.


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


 

The consequences of commutation are:
- You won’t receive a monthly pension from us when you retire.
- If you are 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.


 

 Content Editor