What is a voluntary Surviving Dependants Bridging Pension?
With a voluntary Surviving Dependants Bridging Pension you insure an amount as an addition to your partner’s income if you die during your employment before the retirement date. Your partner* will receive this addition until he or she reaches the state pension age. If your partner dies before the state pension age, the addition will stop. The premium for this insurance is deducted from your salary each month. You therefore pay this premium yourself.
Please note:
You must take action yourself to activate this insurance. If you do not make a choice, your partner is not insured for the voluntary Surviving Dependants Bridging Pension. See the section: How to take out a voluntary Surviving Dependants Bridging Pension?
Your partner will then receive the following benefits:
- Partner's pension
- Surviving Dependants Bridging Pension
Before state pension age
- Partner's pension
- State pension (AOW)
After state pension age
Who is the voluntary Surviving Dependants Bridging Pension intended for?
If you have a partner with whom you are married, have a registered partnership or cohabitation, insuring the supplement can be useful. This may be the case if your partner has insufficient income of his/her own.
You must register for this insurance:
- Within 3 months after you started working for your employer; or if that is later
- Within 3 months after your employer’s pension scheme is implemented by Zwitserleven; or if that is later
- Within 3 months after the start of your relationship with your partner
If you do not register within 3 months, your partner is not insured for the voluntary Surviving Dependants Bridging Pension. It is not possible to register for this insurance after 3 months.
When is voluntary Surviving Dependants Bridging Pension suitable?
There are advantages and disadvantages to the insurance of the voluntary Surviving Dependants Bridging Pension. Whether it suits you depends on what you find important. And your financial situation, now and in the future.
Pros
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Your partner’s income is supplemented after your decease during your employment.
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The premium you pay is deducted from your salary. You do not pay tax on the premium.
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You can cancel the insurance at any time.
Cons
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You pay the premium yourself, so you have less room for other expenses.
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Your partner pays tax on the benefit (supplement).
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The insurance ends when you leave your employment.
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Your partner may lose the right to benefits from the government (such as rent and healthcare benefits) when the insurance pays out.
Suitable:
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If your partner or your family is (partly) dependent on your income.
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If you do not have enough other insurance policies in the event of decease.
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You don’t have enough savings.
Not suitable:
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If your partner has enough income of his/her own.
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If you have enough other insurance policies in the event of decease.
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If you have enough savings.
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If your partner has (almost) reached state pension age.
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If you prefer insurance that is separate from your employer.
What alternatives are there?
You can take out death insurance with an insurer, separate from your employer. You then have more options in terms of amounts to be insured. And you can also choose from multiple providers.
Please note: take a good look at the premiums including costs and the conditions that are used. A medical evaluation may be required.
How do you take out a voluntary Surviving Dependants Bridging Pension?
On your participant portal you can choose the voluntary Surviving Dependants Bridging Pension in the My changes section. This is only possible if you have the Zwitserleven Pensioen and your employer has included this as an option in your pension scheme.
If you are cohabiting, you must first provide us with the partner details. You can also do this via the My changes section.
When does your voluntary Surviving Dependants Bridging Pension automatically end?
If you have taken out voluntary Surviving Dependants Bridging Pension with Zwitserleven, this insurance will automatically stop in the following situations:
- We receive a message that you have left your employer; or
- We receive a message that you no longer have a partner; or
- Your partner reaches state pension age
In these situations, we will cancel the voluntary insurance because there is no longer any entitlement to a payment under this insurance. Of course you no longer have to pay a premium for this insurance.
How do you cancel a voluntary Surviving Dependants Bridging Pension yourself?
Do you want to cancel an oluntary Surviving Dependants Bridging Pension taken out with Zwitserleven? On your participant portal you can choose to stop the voluntary Surviving Dependants Bridging Pension in the My changes section. You can cancel the insurance at any time.
Please note: a voluntary Surviving Dependants Bridging Pension can usually no longer be switched on (taken out) after it has been discontinued. It is only possible to reactivate this insurance if you get a new partner.
* Your partner is the person whom you:
- are married to; or
- have a registered partnership with; or
- have a long-term joint household (cohabiting).
You may have a maximum of one Partner.
A long-term joint household (cohabiting) qualifies as such if the following conditions are fulfilled: You and your partner are both not married and are not in a registered partnership with any third persons; and your partner is not related to you in the first degree; and you and your partner are registered at the same address for at least six months in the BRP (Municipal Personal Records Database). Or you and your partner can provide a notarised domestic partnership agreement.
Need advice?
We are pleased to assist you with your retirement choices. Those choices can have major financial implications. Our guidance is only about your Zwitserleven Pensioen. Whether a choice is right for you naturally depends on your entire personal situation. Now and in the future. Have you thought about asking an advisor? They can give you an overview of all your financial affairs. And help you make the most appropriate choices.