Choices on retiring


What is there to choose from as you near retirement?

As you near retirement, you can choose how you want your accrued pension to be paid out. In many cases, you must tell us your choices 6 months before retirement date.

A higher pension to start with, then a lower one

Normally, you will receive a fixed monthly amount on retiring. But you can also choose to be paid a higher pension for the first five or ten years and then a lower amount. The ratio between high and low payments may be no more than 100:75. If you are interested in this option, please contact the pension fund for an estimate of the possibilities. The ‘high-low’ pension has no effect on the value of the partner and orphan’s pensions.

Please note: Would you like to use the high-low scheme? If so, please inform us at least six months before retiring by sending us an e-mail to

Swapping a partner pension for an extra retirement pension and vice-versa

On retirement, it is possible to increase your own pension by exchanging all or part of your partner pension for an extra retirement pension. You can then use this higher pension to stop working sooner. You will need your partner’s approval to do this.

The reverse is also possible. You can exchange part of your retirement pension for a higher partner pension, provided the partner pension after the swap does not exceed 70% of your retirement pension. This option can be useful if, for instance, you have a new partner following a divorce. The accrued partner pension for the new partner may be relatively low because part of the partner pension has become a ‘special partner pension’ to which your ex-partner is entitled. Read more

Please note: The top-up scheme gives you a similar choice of options. When you retire, you can choose to use the accrued capital to buy only a retirement pension or a retirement pension plus a partner’s pension.

Please note: Do you wish to make use of these pensionexchange options? If so, please inform us at least six months before your desired retirement date by sending us an e-mail to

Temporary benefit possible for your top-up pension

When retiring, you can opt for a top-up scheme for your temporary two-year benefit, followed by a lifetime allowance. This right to choose applies if the pension capital is at least €10,000 on the retirement date.

Have your top-up pension paid out elsewhere

Upon retirement the top-up capital accrued under the top-up scheme at our pension fund is converted to a retirement pension or an old age and partner pension. At that time you can also choose to purchase a benefit from your accrued top-up capital with an insurer of your choice.