Annual yield adjustment from 1 January 2024.

Zwitserleven PPI last adjusted contracts without rate guarantee on 1 January 2022, when the yield adjustment was also reset. Zwitserleven PPI's initial plan was to amend the yield adjustment at least once every three years. We're going to change this. From 1 January 2024 onwards, Zwitserleven PPI will amend the yield adjustment each year to the applicable interest rate at the time.

Why are we making this change?

It now appears that when Zwitserleven PPI last amended the yield adjustment, the interest rate that it was based on was historically low. After that, interest rates rose sharply. In order to ensure that the yield adjustment properly reflects the interest rate at the time, the yield adjustment needs to be amended each year.

What do we need in order to make this happen?

We want to charge you the cleanest price possible. This process will therefore need to be simplified and automated in the future. We're do the following in order to achieve that:

You will receive an addendum to your implementation agreement in April or May 2023 specifying that we will amend the yield adjustment each year. The addendum will also state that we will no longer mention the yield adjustment in the implementation agreement but in the new rates tables we draw up each year instead. We will post the rates tables in MijnZwitserleven for your reference.

We will adjust the rate tables on 1 January each year to reflect the applicable interest rate at the time, based on the interest rate that applied in November of the previous year. We will post the rates tables in MijnZwitserleven for your reference. These tables will form part of the implementation agreement.

Communications

In April or May 2023, you will receive an addendum in MijnZwitserleven allowing the change in the yield adjustment. When we post this addendum, both you and your adviser will receive notifications in your inboxes.

In January 2024, we will post the new rates tables containing the amended yield adjustment in MijnZwitserleven for the first time. Both you and your adviser will also be notified of this.