You will soon be able to enjoy your pension. It is not only your everyday life that is going to change. Your financial situation will be different too. Before you receive your first pension payment, a number of options are available to you. These options affect the amount of pension you receive.
Nine months before your AOW pension age, when you will receive your AOW (state pension), we will ask you to apply for your pension. You will receive an application from us.
Your pension will than be paid out as a lump sum. This means that we pay your retirement pension in one go. You will receive an one-off amount and no (monthly) retirement pension.
When you have accrued more than € 484,09 a year (2019) that means that you will have some choices for your pension. For example the age you want to retire on. Or you can vary the level of your pension with the high-low scheme where you can opt for a higher pension initially and a lower pension later. All these choices affect the level of your monthly pension. Read underneath for more information about the choices you have with your pension.
Earlier retirement of working longer?
In our pension scheme you retire at the age of 68. That is later than your AOW pension age when you will receive your AOW (state pension). Do you want to retire earlier or later than your 68th birthday? Or do you want a partial retirement? Is it possible but it will affect the level of your retirement.
First more and later less pension (high-low scheme)
Through the high-low scheme it is possible to match the level of your retirement pension to your personal wishes, taking into account the fiscal limits. In this scheme your retirement pension is increased up to a certain age, at the expense of the benefit level in later years. Or the otherway around.
Survivors’ pension: retain or exchange?
In the pension scheme you might have accrued a survivors’ pension. Your partner receives this survivors’ pension after your death. However, you can also choose to exchange your survivors' pension and receive a higher retirement pension instead. Or you can exchange some of your accrued retirement pension into additional survivors' pension.
Choosing the level of your bridging pension
If you retire before the AOW pension age, you will not yet receive a state pension (AOW). For that reason the pension scheme allows you to opt for a bridging pension. This is a temporary extra pension that you receive together with the retirement pension. In this way your total gross income can remain almost the same until your AOW pension age as it is from the time when you receive your AOW (state pension). You can opt for different levels of the bridging pension, matching it to your AOW (state pension) that you will later receive.
If you have any questions about applying for your retirement, you can contact us.