Value transfer

Whether or not it is sensible to transfer your pension depends on your previous pension scheme, as well as your personal situation and wishes. For example, you may want all your pension to be in one place. However, this can sometimes be disadvantageous.

When making a decision you should consider the following: 

1. What are the differences between your old and your new pension schemes?
Every pension scheme is different. It is, therefore, very important that you compare your old and your new pension schemes. You should pay attention to the following points:
- When can you retire?
- What options do you have when you retire?
- What arrangements have been made for your partner if you predecease him/her?
- Are you running any investment risks in your previous scheme?
- Will your pension be increased every year (i.e. is it index-linked)?

What are the coverage ratios of your old and new pension funds? By clicking this link, you can find information about our coverage ratio .

The list above is not exhaustive. Whether it would be sensible for you to transfer your pension is not a decision we can make for you, nor are we allowed to advise you in this respect. If you are in doubt, please contact an independent adviser.

Transferring your pension takes between six to twelve months. Sometimes, it can take even longer. For example, if the coverage ratio of one of your old pension funds is lower than 100%, then value transfer is not permitted. 

Step 1: You ask us for a proposal
Using your DigiD, you log in to mijnpgbpensioen.nl. When you log in using your DigiD, you receive a text message check.  You can activate the text message check via mijn.digid.nl. In the start screen of mijnpgbpensioen.nl, you should click on ‘Please request a proposal’ which is immediately after  ‘Would you like to transfer your pension to us?’ Here you can stipulate with which pension administrator (or administrators) you have accrued pension; and what your policy/registration number is with that (those) pension administrator (administrators). Subsequently, you should ask each pension administrator to send you a transfer proposal.

Step 2: We contact your old pension fund or pension insurer
We ask your old pension fund or insurer what the value of your accrued pension is. Sometimes it takes a while before we receive an answer.

Step 3: You receive a proposal from us 
Once we receive an answer, we calculate how much pension we would offer you based on the value of your pension with your old pension provider. We then make a proposal. On the basis of this proposal, you decide whether or not to transfer your pension.

Step 4: You then inform us of your decision
Once you have made a decision, you complete and sign the form which forms part of the proposal.   If you have a partner, he or she must also sign the form. Subsequently, you return the signed proposal to us.

Step 5: We send you a letter when the value transfer has been completed
If you agree to our proposal, we will contact your old pension provider. That pension provider then transfers the value of your pension to us. As soon as we have processed the transfer of your pension, we will send you a letter.

And are you no longer accruing pension with us? If so, you should ask your new pension provider to arrange a value transfer.

And are you no longer accruing pension with us? If so, we will automatically transfer your pension to your new pension provider. You do not need to take any action. In this way, we ensure that the pension you accrued with us and the pension you accrue with your new pension provider are placed under one ‘roof’. As soon as your pension has automatically been transferred, you will receive a letter from us. And, as soon as the automatic transfer has been finalised, you will receive a letter from your new pension provider.

Do you have a small pension and (as yet) no new pension provider?
In that case you do not need to take any action either. For a period of five (5) years we will check whether or not you have a new pension provider. If we discover you have a new pension provider in that period, we will automatically transfer your pension to your new pension provider. If you do not have a new pension provider after five (5) years, your pension will stay with us.

And are you no longer accruing pension with us? If so, your pension will expire on statutory grounds. The amount will flow back into the Pension Fund’s collective pot. In this way all our participants can benefit.