PENSION VALUE TRANSFER

 

Opting for Pension Value Transfer

Once you leave Nike, you will no longer accrue any pension with us. The Nike Pension Fund will send you an overview, informing you of the accrual of your personal retirement savings account. You can choose to take the value in your personal retirement savings account to the pension fund of your new employer. We call this an outgoing value transfer.

 

Obtain sufficient information in advance about the consequences of the Pension Value Transfer. Whether it would be beneficial for you to opt for a Pension Value Transfer primarily depends on the set-up of the new pension fund and its financial situation. Check out the pension comparison tool in the download section, as that may be an aid in your decision-making process. You may want to consult a financial advisor as well.

 

After completing the Pension Value Transfer to the new pension fund, you are no longer a participant of the Nike Pension Fund.

 

What if you opt against a Pension Value Transfer?

If you do not opt for a Pension Value Transfer, then your personal retirement savings account stays with the Nike Pension Fund. After leaving Nike, you and Nike will no longer pay any contributions to the Nike Pension Fund, but you will continue to accrue a pension in the pension plan of your new employer.

 

Commutation of small pension

If your stay at Nike has been short, the value of the personal retirement savings account can be paid out to you as a lump-sum payment if the old age pension on an annual basis on the date of commencement is assessed as less than the maximum according to article 66 of the Pension Act. The lump-sum payment – which includes the partner and orphans pension – is subject to withholding of any statutory tax.