Transfer of accrued benefits.

Transfer of accrued benefits.

You will have to deal with employees joining or leaving your company. These employees are entitled to transfer the accrued value of their pension to their new employer's pension scheme. We calculate the value of the pension according to legal calculation rules. This value is different from the value according to our rates. If there is a deficit you will have to pay additional contributions. In that case, you will be exposed to the risk of unexpected extra pension costs or, to the contrary, surpluses. 

ill be exposed to the risk of unexpected extra pension costs or, to the contrary, surpluses. The Zwitserleven i-Pensioen offers a solution. The solution covers the risk that you will have to make additional payments or have surpluses in the event of future individual outward transfers of accrued benefits of pension entitlements accrued under the new administration agreement. This solution is not included by default. You will have to pay an extra premium for it. According to Zwitserleven, the solution for future pension entitlements meets the requirements of IFRS. It is up to your accountant to assess and explain this.

You may have to pay extra in case of:

  • an individual inward transfer of accrued benefits.
  • an individual outward transfer of accrued benefits of pension entitlements in previous pension schemes. Even if these are previous schemes at Zwitserleven and you did not choose the solution.

If you choose this solution, it will be fixed for the whole term of this agreement. Also when the legislation or regulations for transfer of accrued benefits change. This works both ways. Does anything change which increases or decreases the risk of having to make additional payments? The percentage of extra premium for implementing the solution will remain the same throughout the term of the agreement.

 Do you also want this solution for the inward transfers of accrued benefits or for the pension entitlements in your previous pension schemes at Zwitserleven? Please contact your adviser to find out about the different options.