The surviving dependants’ bridging pension (NOVP) is a supplement to your Zwitserleven i-Pensioen Scheme. The NOVP provides a temporary pension for the partner upon your employee’s death. The benefits take effect immediately upon your employee’s death Payments are made until the end date, which is determined by you, or until the partner starts receiving a state pension. Does the partner die before the end date? In that case, the NOVP benefit stops.
Why the surviving dependants' bridging pension?
- A group rate is often cheaper than private insurance
- Extra cover for employees with a younger partner
- No questions about the employee’s health
- You choose how high the benefit is
When is it interesting for you as an employer to additionally insure the surviving dependants’ bridging pension?
If:
- the partner is not expected to receive a surviving dependants' benefit upon your employee’s death
- your employee's partner has no income of his or her own
- the partner's pension that will be paid to the partner is low
- the partner only receives a partner's pension if your employee dies after the retirement date
- the pension scheme has a maximum salary. Or if the partner's pension has a maximum benefit.
Choosing the amount of the benefit
You choose how high the benefit should be. The amount can be between € 10,000 en € 21,805 (2024). After the start of the benefit payment, the amount of the benefits will remain the same. You can also choose to increase the benefit by 2% each year.Does the partner have a surviving dependants' benefit insurance or his or her own income? In that case, this will not affect the amount of the surviving dependants’ bridging pension benefit. Conversely, the surviving dependants' benefit insurance will not be reduced because of the NOVP benefit.
Extra cover for younger partner
Does your employee have a younger partner? In that case, the NOVP will continue until the partner receives his or her state pension. Or until the partner’s death, if this is before the state pension age.If your employee retires, the cover of a risk insurance will often be cancelled. But with the Zwitserleven NOVP the coverage continues. Does your employee die after the retirement date and the younger partner does not yet receive a state pension? In that case, the partner will receive an NOVP benefit until the state pension age is reached. A reassuring thought! You do not pay any additional contributions for this. However, contributions must have been paid until your employee's retirement date.
Need a quote or advice?
As a good employer, you want to choose a pension that is right for your business and for your employees. We have a wide range of options to suit every type of business. Such as an investment-based defined contribution pension scheme, possibly in conjunction with Nettopensioen. A complete overview of our products is available.
If you would like to know more about this or any of our other pension schemes, or would like to get specific advice on a pension scheme for your employees, contact an independent financial adviser. Zwitserleven has an excellent relationship with a large number of professional insurance advisers.