RetireMent

 

At your date of retirement, your personal retirement savings account becomes available

The law imposes that you purchase a lifelong annuity at an insurance company by applying your personal retirement savings account. In return for your personal retirement savings account, you will receive a lifelong amount per month.

 

You are free to choose the provider of the annuity.

 

You decide on the form of the annuity

You may decide not to receive a monthly pension, but a quarterly one. You may decide to start off by receiving more in the first 5 years and then less, or you opt for equal portions.

 

You will receive an old-age pension yourself. It is common practice that you purchase a partner pension at the same time. Your partner will receive a pension, in case you pass away. Should you not want to purchase a partner pension, you can supplement the partner pension to your old-age pension. You will receive more, but your partner will not have an income after you passed away. Your partner needs to consent to this.

 

You may want to consider the consult of a financial advisor. Please contact the HR Service Desk timely to  learn more about the options.