Page Image Page ContentIf your pension is lower than € 497.27 gross per year (amount 2020), 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. When you retire, you can indicate on mijnpgbpensioen.nl that you would like your pension paid out as one lump sum. Below the consequences of commutation are explained- You will not receive a monthly pension from us when you retire. - If you have a right to the remission of municipal taxes, this right could come to an end.- If you have a right to a healthcare allowance (benefit), this right could (partially) come to an end. A small pension when leaving the service of your employer Are you one of our ex-participants and only have a small pension with us (lower than € 497.27 gross per year)? As of 1 January 2019, it is not (no longer) possible to have your pension paid out as one lump sum. Instead, we are trying to have your small pension automatically transferred to your new pension provider. You do not have to take any action. In this way, we can ensure that the pension you accrued with us and the pension you accrue through your new pension provider will all be under one roof. As soon as the automatic transfer of your pension has been processed, you will receive a letter from us. And, as soon as the automatic transfer has been completed, you will receive a message to that effect from your new pension provider. Do you not (as yet) have a new pension provider?Even in that case, you do not need to take any action. For a five-year period, we will check whether or not you have a new pension provider. If, in that period, we ascertain that you have a pension provider, we will automatically transfer your pension to your new pension provider. If, after five years, you still do not have a new pension provider, your pension will stay with us. Do you have a very small pension with us, that is lower than € 2 gross per year?If so, your pension will automatically lapse. Subsequently, the sum will flow back into the pension fund’s collective pot. In that way, all the participants in our pension schemes profit.