This is how it works
If you have a new job and are accruing a pension with Zwitserleven, you can transfer the value of your old pension(s) to your new pension policy. This is known as a transfer of accrued benefits.
What you need to know
This will give you a better overview, mail from just one insurer and the ability to see at a glance how much you have accrued. It is also possible that your pension may be invested more sustainably after a transfer of your accrued benefits. And you may receive a pension that is better suited to your personal situation. You can read about how this all works here.
Transfer your accrued benefits in a few steps
First, compare the pension of your old and new employers and check what has been arranged for you and your surviving dependants. Please also read the pros and cons of transferring accrued benefits on this page. Interested in transferring? You can request a no-obligation offer in a few simple steps:
- Log in to MijnZwitserleven.
- Request an offer without being tied to anything.
- Read our proposal and see if transferring your accrued benefits is of interest to you.
- Sign the offer.
- Send the signed offer via this form.
When to opt for transfer of accrued benefits?
There are advantages and disadvantages to transferring accrued benefits. So whether it is beneficial for you depends on the differences between your old and your new pension schemes. The overview below shows in which situations you might consider transferring your accrued benefits.
Pros
- You have your pension in one place and fewer different pensions. This keeps your records clear.
- You decide for yourself whether you want to transfer the value of your old pension. Only in the case of a small pension does the law stipulate that the pension provider can choose to transfer it automatically.
- It is often also possible to transfer the value of non-contributory pensions from very old employment relationships.
Cons
- Are you switching from a defined benefit agreement with a guaranteed pension to a defined contribution pension scheme? In that case, the amount of your pension will depend on investment results and is no longer guaranteed.
- Are you switching from a defined contribution pension scheme to a guaranteed pension? In that case, the amount of your pension will depend largely on the interest rate at that time, which could be unfavourable.
- While the risk is small, if you put all your pension with one pension provider and it runs into financial trouble, you could lose (some of) your accrued pension. Having pensions with multiple pension providers spreads this risk.
May suit you if:
- you are willing to carefully compare the old and new schemes to see which one best suits your personal situation and needs. This can be done with our pension comparison tool, for example. Here, look at the different choices you have in the schemes and at the extent to which the pensions are adjusted to future price increases (indexation).
- the cost of the scheme with Zwitserleven is lower than that of the old non-contributory scheme.
- you have changed jobs frequently and therefore have many different pensions that you wish to combine.
- this allows you to make the partner’s pension more appropriate to your personal situation.
Probably suits you less if:
- your non-contributory pension scheme includes death cover. This additional death cover may be lower after the transfer of your accrued benefits.
- you are 60 years of age or older and switching from a pension scheme with a guaranteed pension to an investment-based pension scheme.
- you like certainty and you are switching from a pension scheme with a guaranteed pension to an investment-based pension scheme.
When are accrued benefits transferred automatically?
If you have accrued a small pension (2024: € 592.51 gross per year) with another pension provider and are currently accruing a pension with us, your previous pension provider may transfer the value of this small pension to Zwitserleven. If the pension provider makes use of this option, this will be done automatically. You will not need to do anything and will be notified if the value of your small pension has been transferred.
If you have accrued a small pension with Zwitserleven, your small pension will remain with us. We will not automatically transfer this to your new pension provider. However, you can contact your new pension provider to request a transfer of your accrued benefits.
Upload transfer of accrued benefits proposal
If you have received our offer and wish to accept it, you can sign it and upload it.
Need help reading your offer?
If you need help reading your offer, please schedule a free and non-binding pension moment with one of our pension experts. We are not allowed to give advice, but we can help you fully understand the offer.
Need advice on your choices?
We are happy to help you make choices for your pension. These choices may have major financial implications. Our guidance covers only your pension scheme with Zwitserleven. Whether a choice is right for you obviously depends on your whole personal situation, now and in the future.
Perhaps you should consider contacting an adviser, who can give you an overview of all your financial affairs and help you to make the most suitable choices.