Right to shop

If you're enrolled in a defined contribution scheme with a pension insurer or a PPI, you can always shop around with that pension.

If you're part of a defined contribution scheme with a pension fund, you can shop around if you want a fixed pension and your pension fund doesn't offer it, or if you want a variable pension and it's not available through your pension fund.

With an average pay or final pay scheme, you can't shop around. The insurer where you've built up this pension will also pay it out to you.

The right to shop around allows you to purchase a pension income from a different pension provider than the one where you've accumulated your capital. Many people are unaware of this option and stick with the same provider, which is a pity because shopping around can be very beneficial. By comparing the terms of different insurers, you can ensure you get the best value for your money.

Check your uniform pension statements (UPOs). Do you see the terms 'defined contribution scheme' mentioned? And is your pension provider a PPI or a pension insurer? Then you have the right to shop around.

If you're in a defined contribution scheme with a pension fund, you can shop around if you want a fixed pension and your pension fund doesn't offer it, or if you want a variable pension and it's not available through your pension fund.

If you're in an average pay or final pay scheme, you'll receive a certain amount from the pension date, usually monthly. So, you don't need to purchase a pension income and therefore don't have the right to shop around.

By comparing the terms of various pension providers, you can secure a suitable pension. You decide what's important to you and which provider's features are decisive: for example, the amount of pension income, the terms, convenience, or sustainability. A financial adviser can help you determine which pension is best for your personal situation.

Yes, you can, even if the pensions are with different providers. It's important that all these pension pots start on the same date. Why? When calculating your total pension income, we take into account the rate at that time. This rate is specified in the quote and remains fixed until at most 14 days after your pension date. This means that the pension pots you want to transfer to Zwitserleven must be transferred within that validity period.

If I want to use my right to shop around, what do I need to do to transfer my pension to Zwitserleven?

On the 'Capital Transfer' page at zwitserleven.nl, you'll find a step-by-step guide detailing what you need to do to transfer your pension to Zwitserleven.

By using your right to shop around, you can buy your pension income from a single provider. This means all your pension is under one roof, which is clearer and can save you costs because you're buying pension income from the combined capital at once and only paying the costs once.

Yes, you can consolidate multiple pension pots using your right to shop around, even if they were built up with different pension providers. It's crucial that all these pension savings start on the same date. Why? When calculating your total pension income, we take into account the rate at that time. You'll find this rate in the proposal and it remains fixed after signing until no later than 14 days after your retirement date. This means that the pension pots you want to transfer to Zwitserleven must be handed over within our offer's validity period.